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Broadly: Square, Punchcard, Stampt, PlacePop (dead?), Thumbpunch, Perka, Jodesco (dead), Paycloud, Loyalli, Key Ring App, Stampfeet, CardStar (Constant Contact), Cardmobili, Front Flip, Posiq. 1) Readily available angel financing makes it hard to rise above the noise of similar startups and results in fratricide. 2) The only way to escape the pack of other startups becomes to raise more money than one's competitors in order to outspend them on marketing, PR, hiring, product, etc. It's hard to be capital efficient when there's a winner-take-most competition, given the network effects. 3) Obviously, selling to small restaurants and retailers is a difficult, expensive proposition. Easier than it was a decide ago, no question. But still a costly slog. Most startups (and there aren't many) that have managed to acquire a large number of them as customers have spent a LOT of time and/or money doing it. EDIT: The list above is in addition to the ones mentioned below. |