PayPal CEO says he’s confident Venmo will make money eventually

By Julie Verhage

TECH
Wednesday, 28 Feb 2018
9:04 AM MYT

A person uses the Venmo app on a mobile phone in this undated image. REUTERS

Venmo’s app succeeded in becoming a ubiquitous way for young people to send money back and forth. It has been less successful at creating a sustainable business.

Dan Schulman, chief executive officer of Venmo parent company PayPal Holdings Inc, said that while it hasn’t happened yet, the app will make money someday.

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