Where Can I Use BOKU?

BOKU’s biggest strength is its relationships with operators. In just two years, it has partnered with 230 operators across 66 countries. By inking deals with both online merchants and mobile operators it allows people to make purchases via their mobile phones that then appear on their mobile phone bills. BOKU has built an impressive network in a short space of time, but the vast majority of its payments are small amounts spent on purchases such as online games. The issue is how this evolves.

This interview is part of the ‘Tech Talk in Silicon Valley’ series which will be published here over the next few weeks featuring some of the biggest and hottest digital businesses right now teaching us about how to succeed in the digital world. Founded in 2009 Boku has raised £23m to make your mobile phone a payment option when you are shopping online. Instead of entering your credit card number when you shop online, just enter your phone number, and the money is charged via your mobile phone bill. To give you an idea of just how hot this company is there was even a rumour that Apple was looking to acquire the company earlier this year. In this video Ron explains how globalisations creates opportunities for start-ups.

Founded in 2008, the company creates software that helps online merchants process payments using a customer’s cell phone number in place of a credit card; it then takes a small cut of each transaction. Big customers include Facebook and Electronic Arts. Has raised $42 million in venture capital from Andreesen Horowitz, Khosla Ventures, and others. Founders Mark Britto, Ron Hirson, and Erich Ringewald have each sold companies they founded or lead.