In 2014, the peer-to-peer payment industry was taking off with consumer platforms like Venmo facilitating payments among friends and API services like Stripe facilitating a new world of payment processing. Elsewhere, the event registration industry was also undergoing a transformation with platforms like Evite, Meetup, and Facebook rising to facilitate online event planning for friends.
At Myhub, we saw this as an opportunity to fuse those trends together through a social event platform where friends could plan events, communicate, and pool money together. At the time, we likened it to "Facebook Events meets Venmo."
Over the course of the next several years, we set out to realize that dream starting off as a consumer-to-consumer app and eventually pivoting to a business-to-consumer app where we felt there was a better opportunity to build our business. Needless to say, we experienced a rollercoaster of highs and lows during those years. And, after several years in operation and nearly $1M in transactions, we decided to close Myhub in 2019 to pursue other projects.
In retrospect, it's easy to look back at Myhub as a learning experience since we made plenty of mistakes and saw other entrepreneurs do the same. More importantly, Myhub taught us how to avoid common pitfalls and run a more efficient operation for ourselves and our clients.
