Get All Access for $5/mo

How Venmo Co-Founder Iqram Magdon-Ismail Pays It Forward by Applying Past Wins to New Projects Since Venmo took off, Magdon-Ismail has combined his passions with the lessons he learned from the successful payments company.

By Lydia Belanger

Opinions expressed by Entrepreneur contributors are their own.

Nomi Ellenson | Getty Images

On this episode of How Success Happens, we chat with Iqram Magdon-Ismail, co-founder of mobile payments company Venmo and audio-sharing app Ense, which is in beta.

Magdon-Ismail co-founded Venmo in 2009 with his freshman-year roommate, Andrew Kortina, a few years after they graduated. But first, they dabbled in other ventures, including a real estate startup that brought in just enough revenue to pay for Venmo's first Philadelphia office space.

Not all of the co-founders' early instincts about Venmo proved correct, but many were right on the money. Braintree acquired Venmo in 2012, and PayPal acquired Braintree in 2013.

Related: 5 Lessons Venmo's Co-Founder Learned While Building a Twice-Acquired Company

In our chat, Magdon-Ismail shares how the Venmo team initially positioned the app for mass adoption, explains why he believes the adage "success leaves clues" and describes a global opportunity for entrepreneurial problem-solving.

Check out the full conversation below and find more episodes of How Success Happens here.

Lydia Belanger is a former associate editor at Entrepreneur. Follow her on Twitter: @LydiaBelanger.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.