February 16th, 2012
Inc. Magazine new solutions by young companies are helping start-ups scale quickly without cash infusions from investors.
“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. Consider Destructoid.com, a video game site based in San Francisco. The company’s CEO, Yanier Gonzalez, uses FastPay for this purpose.
“Our primary source of income is advertising and it took us a really long time to figure out how we were going to be able to sustain cash flow and continue to grow,” Gonzalez writes in a statement. “I went to my banker. And the first time I walked in there to get a loan and had to explain what I did for a living, they were just like “What?” They didn’t understand my business. Then I discovered FastPay. They got it from day one. They’re like okay, now here’s what we can do. And it was done in like two days. It was ridiculous. I mean it was literally 48 hours and we had our funding. I don’t actually think I’d be in business if it wasn’t for FastPay.”
To read the full article, please click here.
October 26th, 2011
Dow Jones VentureWire reports on FastPay’s financing options for the ad-tech industry.
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.”
To read the full article, please click here.
October 25th, 2011
AdRants on how FastPay helps digital media business grow.
It’s about getting paid faster once your business is up and running.
FastPay Founder and CEO Jed Simon said, “While innovative financing options have historically taken root across various industries, we saw an enormous void within the digital media space. Until now, there was not one financing source that addressed the excessively long payment cycles most digital media companies face. We launched FastPay with the goal of creating a streamlined solution that would provide critical liquidity to this rapidly growing industry.”
To read the full article, please click here.
October 25th, 2011
socaltech.com reports on FastPay
A new, Los Angeles startup, FastPay, headed by Jed Simon, said today that it has launched its service, which provides payment financing for online publishers. The firm said it has so far deployed more than $25M in financing to companies, which allows those companies to collect payments faster than usual terms of online advertisers, helping them to manage their cash flow better.
To read the full article, please click here.
October 24th, 2011
BusinessInfoGuide.com Q&A with FastPay founder Jed Simon.
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.
To read the full article, please click here.
April 13th, 2011
Featured in Mashable, FastPay CEO Jed Simon discusses the cash flow challenges of growing social media start ups and new solutions that can help.
“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.”
To read the rest of the article, please click here.
January 26th, 2011
The Harvard Business School Association of Southern California has invited Fast Pay Partners Founder and CEO Jed Simon speak at the 2011 Entrepreneurs’ Breakfast in Los Angeles. The event, scheduled on Friday, January 28th from 8am to 10am, features four hot entrepreneurs from the Los Angeles area discussing how to build successful businesses in today’s challenging economic environment.
More information on the event is available on the Harvard Business School Association website.
October 21st, 2010
Financial Executive Magazine interviews FastPay CEO Jed Simon.
Late-paying clients, slashed credit lines and tightning terms are the realities for today’s small- and mid-sized entities as they scramble to survive in the struggling economic recovery.
“In the past economic cycle,”Simon says, “payment terms for online advertising, which have always been long, have extended literally to the breaking point. From 45 days,” he adds, “it’s gone to 60,90 and even beyond 120 days, and (the lack of working capital) has reverberated throughout the online publishing ecosystem. Gatorade pays the media buyer, who pays the advertising network, who pays the publisher. When any part of that goes down, the impact is felt throughout.”
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June 7th, 2010
AdExchanger interviews Fast Pay Partners’ Jed Simon.
AdExchanger.com: Please share background on yourselves. And, where did the idea come from for Fast Pay Partners?
Jed: The idea for FastPay was based on seeing the need firsthand…
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April 28th, 2010
Inside Social Games looks at the impact of FastPay on social gaming startups.
“There’s a lot of money in social gaming — this common knowledge that has followed the success of Zynga, Playdom and 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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