How Venmo Co-Founder Iqram Magdon-Ismail Pays It Forward by Applying Past Wins to New Projects Since Venmo took off, Magdon-Ismail has combined his passions with the lessons he learned from the successful payments company.

By Lydia Belanger

Opinions expressed by Entrepreneur contributors are their own.

Nomi Ellenson | Getty Images

On this episode of How Success Happens, we chat with Iqram Magdon-Ismail, co-founder of mobile payments company Venmo and audio-sharing app Ense, which is in beta.

Magdon-Ismail co-founded Venmo in 2009 with his freshman-year roommate, Andrew Kortina, a few years after they graduated. But first, they dabbled in other ventures, including a real estate startup that brought in just enough revenue to pay for Venmo's first Philadelphia office space.

Not all of the co-founders' early instincts about Venmo proved correct, but many were right on the money. Braintree acquired Venmo in 2012, and PayPal acquired Braintree in 2013.

Related: 5 Lessons Venmo's Co-Founder Learned While Building a Twice-Acquired Company

In our chat, Magdon-Ismail shares how the Venmo team initially positioned the app for mass adoption, explains why he believes the adage "success leaves clues" and describes a global opportunity for entrepreneurial problem-solving.

Check out the full conversation below and find more episodes of How Success Happens here.

Lydia Belanger is a former associate editor at Entrepreneur. Follow her on Twitter: @LydiaBelanger.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Buying / Investing in Business

Former Zillow Execs Target $1.3T Market

Co-ownership is creating big opportunities for entrepreneurs.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business Plans

Start 2022 With a SWOT Analysis

Whether or not you're in the process of creating a business plan, a SWOT analysis can be a beneficial tool to assess your business or organization.

Fundraising

What Does a Multibillion-Dollar Corporation Want With Crowdfunding?

Equity crowdfunding company Circle Up announces a partnership with the behemoth Johnson & Johnson.

Leadership

The 4 Pillars of Leadership — How to Succeed as a People-Driven Leader

People-driven leaders prioritize relationships, trust and a positive work environment to foster engagement and team success. Here's everything you need to know about owning this leadership style.