Wow! I don’t know what else to say. I’m an avid Wesabe user and unofficial spokes-model (very unofficial) and I can’t say enough about the job these guys are doing, but I guess I don’t have to. Wesabe users are out there voting with their trust, and over $1 billion dollars of trust has made it into the Wesabe transaction database. Co-Founder Jason Knight put a post up on the main blog page detailing one of things that sets Wesabe apart and that has earned my respect, their belief that their users data should be entirely under the users control…
This data belongs to our users, who can export or delete it at any time. By anonymously aggregating their data with the Wesabe community, members are helping to shift the balance of information from businesses to consumers. Our job is to use this data to help guide members to the best merchants and the greatest value for their money, and we’re looking forward to sharing our progress soon.
Wesabe does it right and this really ties into the discussion of the Future of Freedom that I wrote about yesterday. This is pure momentum for them, building on their recent venture capital success, and continuing on from here with advanced account options in the future. I can’t wait to see what’s next.
With that much financial transaction data I have to imagine that Google, Yahoo, and Microsoft have taken notice. None of these companies are really known for data policies, so the big question I have for Wesabe is what happens if an offer is made, a BIG offer? I trust that users would be allowed to delete their data before any acquisition but how firm can Wesabe be afterwards?