“PayPal for Porn” Booted from UVa

Brian McNeill had an eyebrow-raising story in the Progress a few weeks ago about a Darden startup business that’s basically PayPal for porn. Not only was it surprising that Darden would have actively recruited the startup to join their business incubator, but that its founder would have done so little research into the existing market; there are oodles of PayPal competitors attempting to tap into the market, since the electronic payment company prohibits using their service for pornography or gambling payments. The head of the Darden program was asked if perhaps it wasn’t wise to be launching a company in this line of business, and he responded that “what is and what isn’t controversial is open to some interpretation.”

Now Pmints.com has been pushed out of Darden, the AP reports, a result of anger by alumni that Darden would be backing this business. (Presumably because of its premise on porn and gambling, rather than the fact that it’s a wholly unoriginal business idea.) Pmints.com’s founder says he’ll carry on without Darden, and expects to launch the business later this year.