This is not how you run a platform. Developers remember. Pull the rug out from under them once, and they’ll be reluctant to stand with you in the future. So despite having a record-setting January with $1 billion transferred in its peer-to-peer payments app, Venmo just shot itself in the foot.
After six years of providing an API for developers to build experiences atop its money transfer system, this month Venmo suddenly shut down the API. Developer sources pointed me to its dev page that now merely reads “The Venmo API is no longer available. We’re sorry for the inconvenience, please reach out to our Support team if you have questions.”
It didn’t have to be this way.
Venmo began promoting the API back in 2010, hosting and participating in hackathons to get more built…