The journey of WePay and its acquisition by JP Morgan

WePay, one of the first FinTech startups, was founded in 2009 and later acquired by JP Morgan for $400 million in 2017. The founders, Bill Clerico and Rich Aberman, initially struggled and applied to multiple accelerators before being accepted into Y Combinator's summer 2009 batch. They shifted their focus from consumer payments to infrastructure by building an API to serve third-party developers. WePay faced challenges such as fraud and outages, but with the support of early investors, they managed to navigate through those difficulties. After their acquisition by JP Morgan, they operated as a separate entity for a while before deciding to move on. Overall, the WePay journey is a testament to the perseverance and adaptability required for startup success.