Why Wesabe Lost to Mint? From the Horse’s Mouth

Wesabe was my first online personal finance manager experience. I was awestruck with its simplicity and functionality. I had a new found love for personal finance thanks to Wesabe.

However, over the years Mint came along and they swept me off my feet. Although Wesabe was good, Mint had an uncanny knack for doing little things better making the overall experience a step above the rest. As a result, Wesabe shutdown this summer.

Marc Hedlund, founder of Wesabe, has written a blog post clearing a lot of speculation that’s been going around recently. He gives a lot of insights into what went into making of the company and eventually it’s undoing.

He puts to rest a lot of rumors and misconceptions behind the company.

If you are interested in startups, this is a great read. And Marc parts with these words stating the current personal finance issues

So, yeah. Changing people’s behavior is really hard. No one in this market succeeded at doing so — there is no Google nor Amazon of personal finance. Can you succeed where we failed? Please do — the problems are absolutely huge and the help consumers have is absolutely abysmal.

You can read his blog post here.

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