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What’s this craze about “Buy now, pay later” companies? 🧵
Recently, US payments giant #Square agreed to pay an eye-popping $29 billion to acquire an Australian BNPL fintech called #Afterpay.
Well, technically they aren’t actually paying $29 billion out of their pockets. It's an all-stock deal & Square will be paying off Afterpay shareholders with its own stock with no cash involved.
/2 As of their Investor Presentation: „Square will appoint one Afterpay director as a member of the Square Board of Directors immediately following closing the deal.„
/3 Imo, it will be one of the Afterpay cofounders. Either Nicholas Molnar or Anthony Eisen. So far, both of them have been great leaders and they have proven to execute at excellence. Each of them is holding an equity stake in Afterpay of about 1.84b$.
