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The Almighty Buck

Clinkle Wants To Become Your Wallet 121

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 has an article on Clinkle, or rather on Stanford students putting their degree on hold to go work at Clinkle. The Wall Street Journal [paywalled] mentions Clinkle having some 30-odd employees already."

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