San Francisco, Chicago,
Founded in 2012 by current CEO Max Levchin, Jeffrey Kaditz, and Nathan Gettings. Affirm is an American financial technology company based in San Francisco founded by PayPal founder Max Levchin. Affirm lets users take out microloans at the point of sale with participating vendors and aims to provide a quick, transparent, and more inclusive lending alternative to credit cards.
In October 2017, the company launched a consumer app that allowed loans for purchases at any retailers. The company announced a partnership with Walmart in February 2019. Under the partnership, Affirm is available to customers in store and on the Walmart website. Since its founding, Affirm has partnered with ecommerce platforms including Shopify, BigCommerce and Zen Cart.
Affirm IPO could prove crucial in the crowded market for point of sale credit
Affirm has raised a total of $1.5B in funding over 9 rounds. Their latest funding was raised on Sep 17, 2020 from a Series G round.Affirm is funded by 22 investors. Baillie Gifford and Wellington Management are the most recent investors.Affirm has a post-money valuation in the range of $1B to $10B as of Apr 4, 2019, according to PrivCo. Sign up for a free trial to view exact valuation and search companies with similar valuations.Affirm has acquired 2 organizations. Their most recent acquisition was Sweep on Apr 27, 2016.
- Expedia Group
Booking Holdings (formerly Priceline)
- Over 150 million users worldwide
6 guests check into an Airbnb listing every second
The average rent received by hosts per guest arrival in 2018 was $185.00
There have been over half a billion Airbnb stays since the company started
There are over 650,000 hosts worldwide
There are over 7 million listings worldwide in over 220 countries and regions
As of January 2020, there are over 100,000 cities with Airbnb listings
In December 2019, 10.4 million guests stayed in an Airbnb for the holidays:
On any given night, 2 million people are staying in Airbnb rentals across the world
Airbnb’s main website saw 91 million visits in January 2020 with 50% of traffic through mobile devices
Airbnb’s yearly revenue in 2018 was $3.6 billion, increase of 38% from 2017
Airbnb’s yearly revenue in 2017 was $2.6 billion, increase of 73% from 2016
In 2018, Airbnb listings constituted 5.5% of the total demand for lodging in the U.S.
In 2018, the top 1o countries that saw a direct economic impact from Airbnb based on host income and estimated guest spending were:
United States: $33.8 billion
France: $10.8 billion
Spain: $6.9 billion
Italy: $6.4 billion
United Kingdom: $5.6 billion
Australia: $4.4 billion
Canada: $4.3 billion
Japan: $3.5 billion
Mexico: $2.7 billion
Portugal: $2.3 billion
Affirm is funded by 22 investors.
WHY GO PUBLIC?
A public listing would improve Affirm’s competitive position against other point of sale credit providers, which have made recent deals to cement their scale among global merchants. From a branding perspective, it would also place Affirm on a path similar to PayPal — an earlier technology startup established as an alternative payment rival to Visa and Mastercard. As one of PayPal’s founders, Affirm CEO Max Levchin has close ties to both companies and is a notable figure in Silicon Valley.
Affirm has already moved its buy now/pay later strategy into overdrive, following a merchant-building partnership with Shopify, which has more than 1.2 million sellers on its network and will gain preferential position with Affirm for point of sale credit.
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