Internal docs: Venmo had operating loss of ~$40M in Q1 2018, 40% bigger than expected, largely due to fraud that led the company to reduce website functionality (Peter Rudegeair/Wall Street Journal)

Peter Rudegeair / Wall Street Journal:
Internal docs: Venmo had operating loss of ~$40M in Q1 2018, 40% bigger than expected, largely due to fraud that led the company to reduce website functionality  —  A spike in fraudulent activity earlier this year led to higher losses than the payments company had expected

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