Limerick brothers have no plans to cash in on billion euro…

first_imgPrint BusinessNewsLimerick brothers have no plans to cash in on billion euro firmBy Editor – January 24, 2014 735 WhatsApp Email Patrick and John Collison of StripeLimerick entrepreneurs Patrick and John CollisonLIMERICK brothers Patrick and John Collison have no plans to cash in on the success of their €1.3 billion company and will use a €60 million round of fresh investment raised this week to fund international expansion.From Castletroy and now based in California, the Collisons created Stripe, a low-cost way for small companies to accept online payments, in 2009 and have been steadily building the business since.Sign up for the weekly Limerick Post newsletter Sign Up John (23) and Patrick (25), a former winner of the Young Scientist competition, created an online auction payments company, Auctomatic, which was sold for almost €4 million while they were still in secondary school at Castletroy College.Their latest success story began when they saw how difficult it was for small companies to accept payments from customers online.“We found it really hard in our previous business to accept payment over the internet. It felt like many other people would be having the same problem, so we set about solving it”, explained John.“We started working on Stripe almost two years before it launched publicly. There was a long period where we were writing code to support a small handful of users, and navigating a relatively unfamiliar industry.“We wrote the first lines of code in October 2009. Three months later, we got our first customer. We stayed going, writing code, starting to hire people and trying to find new customers. By the time we launched publicly in September 2011, we had ten people on the team.”Stripe now employs 83 people at its headquarters in San Francisco and the company has become a recognisable name in global ecommerce, with backers such as Paypal founder Peter Thiel and entrepreneur Elon Musk numbered among its investors.Social media giant Twitter is reportedly in discussions with the company over a deal that would allow Twitter enable companies to accept payments on the social media platform.However, Chief executive, Patrick Collison says that they won’t be in a rush to take advantage of the company’s latest valuation.“We’ve no interest in selling the company. John and I are very lucky to work with the people we do on building something for the long term, and we wouldn’t like to change that,” he said.This is also the view of his younger brother who said they were focused on opening international offices and delivering on Stripe’s goal of building an easier way of paying for goods and services online.“It’s still early days for the payment systems that power the internet. It’s outrageously difficult and expensive to move money between countries.“Fraud and storing credentials still cause merchants hassle. So online payments is a great place to go hunting for problems worth solving”, said John. First Irish death from Coronavirus Encourage Wildlife in Castletroy Park Elegant property in Monaleen #LimerickPostProperty Twitter Previous articleNo room at the Mansion House for Limerick manNext article40 jobs from Limerick environmenal firm expansion Editor center_img Shannondoc operating but only by appointment TAGSAutomaticCastletroyElon MuskfeaturedJohn CollisonMusic LimerickPatrick CollisonPeter TheilStripeTwitter Linkedin Advertisement RELATED ARTICLESMORE FROM AUTHOR Facebook Walk in Covid testing available in Limerick from Saturday 10th April No vaccines in Limerick yet last_img read more

Continue reading

Cullen’s resignation could further delay Donegal SW by-election

first_imgNewsx Adverts Pinterest By News Highland – March 9, 2010 Facebook Twitter Man arrested on suspicion of drugs and criminal property offences in Derry Twitter WhatsApp Pinterest Facebook Man arrested in Derry on suspicion of drugs and criminal property offences released 365 additional cases of Covid-19 in Republiccenter_img WhatsApp Cullen’s resignation could further delay Donegal SW by-election PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Google+ The Energy Minister Eamon Ryan has dismissed suggestions that the departure of Martin Cullen from public life will further destabilise the Government.Minister Cullen announced his resignation as a TD and Minister last night on health grounds.His departure means the Government must now fight three by-elections, with the Donegal South West poll already pending for a year and a half.Whether the government proceeds with the Donegal poll on its own, or waits to hold three together remains to be seen. RELATED ARTICLESMORE FROM AUTHOR HSE warns of ‘widespread cancellations’ of appointments next week Previous articleLetterkenny Taxi spokesperson backs national protestNext articleIMPACT escalate public sector protest in Donegal News Highland Dail to vote later on extending emergency Covid powers Google+last_img read more

Continue reading

US Expands Support for Honduras and Guatemala Following Eta Devastation

first_imgBy Kay Valle/Diálogo November 12, 2020 U.S. Southern Command’s Joint Task Force Bravo (JTF-Bravo) continues to support rescue and humanitarian relief efforts of the governments of Honduras and Guatemala in the Wake of Hurricane Eta devastation.Among its latest missions in Honduras, on November 10, JTF-Bravo troops joined the Honduran Armed Forces, the Red Cross Honduras, and the U.S. Agency for International Development (USAID) Office of Humanitarian Assistance in transporting more than 1,800 kilograms of humanitarian supplies aboard a CH-47 Chinook helicopter to the department of Gracias a Dios. Two days prior, JTF-Bravo units delivered more than 1,200 kg of supplies to communities in five áreas of Choloma, Cortés department, which were isolated for 96 hours following the hurricane.Members of JTF-Bravo partner with the Honduran Armed Forces, the Red Cross Honduras, and the U.S. Agency for International Development (USAID) Office of Humanitarian Assistance to load more than 1,800 kg of humanitarian supplies aboard a U.S. Army CH-47 Chinook in the Toncontín International Airport, in Tegucigalpa, Honduras, on November 10, 2020, to take them to Puerto Lempira, Gracias a Dios. (Photo: U.S. Air Force Captain Rachel Salpietra)In addition, the U.S. Embassy in Honduras donated a cold storage room to the Regional Office of Forensic Medicine in San Pedro Sula, Cortés, to support the work of doctors and other specialists who identify the bodies of victims.The Permanent Contigency Commission of Honduras (COPECO) also announced that it would begin coordinating efforts with JTF-Bravo to continue saving lives in the Sula Valley, a region in the north of the country that was submerged in waters. In addition, COPECO units will join members of the U.S. force to assess the damages and provide humanitarian assistance in Gracias a Dios.According to November 10 data from COPECO, more than 16,000 people have been rescued throughout the country and more than 20 died to the effects of the hurricane.“When our family is in need, we have the obligation to help,” said U.S. Army Colonel John D. Litchfield, commander of JTF-Bravo, noting the long partnership between Honduras and JTF-Bravo, which headquarters are in Comaguaya. “We look forward to continuing the rescue and humanitarian aid efforts,” he added during his visit to the Regional Emergency Operation Center in San Pedro Sula, Cortés, from where rescue efforts for this area will be coordinated.Support to GuatemalaIn Guatemala, the work of the JTF-Bravo team has been concentrated in the departments of Alta Verapaz, Quiché, and Zacapa, providing strategic transportation, transfer of rescue teams, transportation of emergency supplies, and support in rescue missions. For example, on November 10, JTF-Bravo joined the Guatemalan Army to transport 4535 kg of supplies in a CH-47 Chinook helicopter to the town of Cobán, Alta Verapaz.“The invaluable support provided by JTF-Bravo’s aircraft in Guatemala […] has made it possible to transport 86,424 pounds [39,201 kg] of food to Alta Verapaz in three days, from where it will be distributed through civil and military aircraft […] to the affected communities that are cut off by the flooding of rivers and damage to the country’s road infrastructure,” Army Colonel Rubén Antonio Tellez, Press director of the Guatemalan Defense Ministry told Diálogo. “On the other hand, they have also provided evacuation for 30 people in Alta Verapaz and Huehuetenango.”Col. Tellez explained that the rescue work in Alta Verapaz is particularly difficult. “It is an area prone to landslides and rescue work is difficult for rescues and canine teams because they sink up to their waists in the terrain.”According to November 11 CONRED data, the hurricane affected more than 639,000 people in Guatemala and 46 died.last_img read more

Continue reading