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Submission + - Clinkle Wants to Become your Wallet (nytimes.com)

vikingpower writes: Clinkle, a new mobile payments start-up, may or may not have succeeded where so many other efforts have fizzled by inventing a practical way to replace credit cards with smartphones. It’s hard to say, though, since Clinkle won’t say much about how its system works. Its website is... well... slight.

But a prominent group of Silicon Valley investors who do know what Clinkle is cooking up are acting as though it has achieved a breakthrough. On Thursday, Clinkle announced that it had raised $25 million in early financing from Accel Partners; Andreessen Horowitz; Intel; Intuit; Marc Benioff, the chief executive of Salesforce.com; Peter Thiel, the co-founder of PayPal; and a long list of other investors with technology industry pedigrees.

The Huffington Post runs an article on Clinkle, or rather: about Stanford students putting their degree on hold to go work at Clinkle.. The Wall Street Journal mentions Clinkle having some 30-odd employees already. Are the days of tech bubbles and hypes back, is this a one-off, or is this imitator of Facebook's initial business model ( campus incubation ) doomed to fail ?

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Clinkle Wants to Become your Wallet

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