That’s the (currently stated) core business model. The article didn’t say that was all it was, the article said that was what it was from a revenue perspective.
I wrote a bunch of stuff on Twitter about it. Or perhaps rambled semi-coherently
But if the question is, does crowdfunding evangelise people, I’d largely say no. A lot of people invest because they are already evangelists. One look at my Kickstarter history and it’s almost all stuff I was already passionate about.
It certainly reinforces them, but lots of our most passionate users had never invested before today, and lots of people who invested in every round don’t post here.
If I had to pin the passion of our forum down to a concept, I’d say it’s down to being inclusive. One read of this place and it’s clear that, unlike social media, you’re not just randomly shouting into the void. We’re here, listening, discussing, participating, welcoming your thoughts and constructive feedback - whether it’s positive or negative. We’re a community in the truest sense - connected by a mutual interest but also interested in everyone as people, as unique individuals. I think it’s obvious how much we value the community, and in turn, the community is valued by everyone as a unique part of this company and in the wider scale of how we can all impact society.
I completely disagree. I think that crowdfunding does make people into evangelists. Sure, not every investor will evangelise, and not every evangelist will invest, but I think owning part of Monzo is going to rather encourage you to spread the word to your friends and family. You could have filled the entire round with venture capital firms, so it’s definitely not about being able to secure this level of investment.
Rather than deny that these are linked, I think you should own it. But you should own the other half, too. That half is that having a bunch of hugely engaged users, in a consumer-oriented product, provides endless opportunities to improve your product in an extremely efficient way. People give you feedback on the forum, come to your office, beta test apps, give their time to user experience research, and many more things besides. So, sure, an investor will go out and try to get people to sign up for the app, but they do it because you want it to be the best banking app in the world. Not just to make a buck. In fact, I find having “INVESTOR” at the top of my card annoying, because it makes people think that if I am trying to get them to sign up then I’m doing it for selfish reasons, or it’s a pyramid scheme or something. Whereas what I really want is for the whole banking sector, as it stands, to slide straight straight into the ocean and be replaced by something much more consumer-oriented and consumer-friendly.
Does anyone proofread Daily Mail articles?
Post of the week…
If anything, it would make me (at least) even more critical of where i see failings And obvious praise where things are well.
Does anyone read Daily Mail articles?
I like reading the comments more. Makes me either laugh or concerned for the human race.
Nope, I’ve learned they don’t ever write fairly. Learned the hard way !!
Not a strictly Monzo story but one that reminds me why I do bank and invest in Monzo
Was also featured on watchdog
Monzo on ITV News at 10 tonight.
They were talking about today’s crowdfunding.
Apparently if you don’t know who monzo are ask your nearest 30 year old
Did they say the M word?
I don’t think so, small steps
Maybe someone has already posted this elsewhere and it’s not strictly “in the media” but good to see Google Pay paying money for adverts that also plug Monzo (saw this today on the Tube)
Any links to view this?
Should be able to share a link shortly once ITV upload it.
EDIT: I’ve added the link to my original post.
A lot of postive press has been round the 20 million having been reached in my opinion - hopefully helping to get the word out even more about Monzo