Welcome to the FastPay News Center, featuring press coverage of FastPay and our clients, feature stories written by members of our team, and the latest company news.
Destructoid is a popular and growing San Francisco-based gaming blog owned by content publisher ModernMethod. The company was founded in 2006 by Yanier Gonzalez, who is also the current CEO.
Despite the site's success, Destructoid needed to find a way to get revenue and get it fast, since it normally takes advertisers -- its primary source of income -- weeks to pay bills. Gonzalez had no luck when he turned to the banks.
Without FastPay, Gonzalez doesn't think his business would be thriving the way it is today. "I might've had to sell a kidney; it definitely would not be as awesome as it is today for sure," says Gonzalez. "I sleep better knowing that these guys are in my corner."
The CEO of FastPay looks at the evolution of the Internet and concludes the age of “one size fits all” is over. “Canned information just can't cut it anymore,” writes Jed Simon...
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Just because a company is profitable, doesn’t mean a company is generating enough cash," FastPay CEO Jed Simon says. "Even when companies are profitable and growing, they actually require even more cash. Online content publishers are a perfect example of how FastPay’s innovative approach to cash flow can help a young and growing company...
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The thesis at FastPay is that commercial banks don’t understand the Internet and are therefore reluctant to provide credit to the sector. Jamarlin Martin, founder and CEO of Moguldum Media Group, said his African American-focused blog network didn’t need a lot of capital to grow, but the long pay cycles made it difficult to invest in new initiatives. He said FastPay has been a great help. “It’s a nice alternative to have,” Martin said. “Entrepreneurs don’t have to take on the risk of giving up equity just to grow.”
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As the online sectors continues to mature, there are more ways to finance your business and increase your growth without sacrificing a large amount of equity. By financing several fast-growing websites, my company has gained a perspective on how the landscape is changing. Here are a few lessons we’ve learned along the way...
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Beverly Hills startup FastPay is on the fast track to growth as it continues to sign up Internet publishing and advertising startups looking for liquidity. FastPay has software that advances up to 80 percent of payments due to online publishing and ad services companies immediately, instead of those companies waiting months for their receivables, often the case in advertising and publishing.
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FastPay has developed its platform and systems to allow digital media companies to compete and grow. Offering credit lines from $100,000 to $3 million and more, FastPay says qualifting companies can receive capital in as little as one business day. managing their cash flow and most importantly, boosting revenue.
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This interview discusses the history of FastPay, the challenges and rewards of creating a new business model, and offers advice on how to overcome challenges while growing your business.
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Q&A with FastPay founder and CEO Jed Simon on the idea behind FastPay, what problems it solves for growing digital media companies, and the short and long-term benefits of using FastPay to provide working capital without the loss of control and equity.
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There’s a lot of money in social gaming — this common knowledge that has followed the success of Zynga, Playdom and many other young but profitable startups. But despite claiming huge cash flows, each of these companies also ends up trading partial ownership to investors for funding. If they’re so profitable, why not go without financing?
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