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Visa is acquiring startup Plaid for a whopping $5.3 billion.

Wondering what Plaid does? I profiled the fintech unicorn in the April 2018 issue of @Forbes:

forbes.com/plaid-fintech/…
@Forbes My colleague @JeffKauflin will have more on Plaid tonight.

"Plaid’s 2019 revenue was between $100 and $200 million, according to a person familiar with the matter. Assuming it was $150 million, Visa would be paying a sky-high price of 35 times sales"

forbes.com/sites/jeffkauf…
@Forbes @JeffKauflin An interesting twist to the Plaid acquisition by Visa uncovered by @JeffKauflin and @iamsternlicht: two of the key bankers on the deal from Goldman Sachs were, like the Plaid founders, @ForbesUnder30 alumni.

Will more #30Under30 M+A follow this year?

forbes.com/sites/jeffkauf…
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Alex Konrad
@alexrkonrad
Three years ago, UiPath was an unknown little Romanian startup. Today, it's a $7 billion global leader in a red-hot new area of tech called RPA.

Beyond excited to share my latest @Forbes cover story on UiPath CEO Daniel Dines, the first bot billionaire.

forbes.com/sites/alexkonr…
@Forbes I flew to Bucharest in July to meet with Dines, who moved his HQ to NYC but still goes back to Romania each summer. My goal: figure out how @UiPath had gone from off the radar to #Cloud100 No. 3 company, 3,200 employees and a $7B valuation overnight.

forbes.com/sites/alexkonr…
@Forbes @UiPath What I found: Daniel Dines isn't your typical tech billionaire. He wakes up each morning and reads a novel until he gets bored, then takes a nap before rolling into the office around 11 am -- or later.

Conversations with Dines are a trip of their own.

forbes.com/sites/alexkonr…
Read 7 tweets
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Alex Konrad
@alexrkonrad
My aunt sent a gif of Steve Harvey clapping to the whole fam and my grandma went to the Verizon store to make it stop
"It's 5:30 pm and he's STILL clapping"

I would give any amount of money to have seen the face of the Verizon staffer my grandma asked to stop the gif
also shout out to my lil sis who IMMEDIATELY knew that I would be posting this thread to Twitter even as it happened 😂😂😂
Read 8 tweets

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Ro Ro Ro Your Boat
@_yoitsro
According to my commit log, it's been almost exactly 2 years since I started building @desanahq as we know it today. This is how it went down. A thread 👇

#startup #developers #nodejs #javascript #ios #android #nativeapps #kubernetes
@desanaHQ When we (@michaelcobyburn and @SteveInJeans) started, I was keen to build something which would "scale". I thought "if this does well, it's going to have to cope with the demand". We had no money and we all worked full time doing other things.
As if things weren't challenging enough, I thought I'd also take the opportunity to learn some new things. Enter @nodejs "microservices" on @kubernetesio on @googlecloud. Oh, and we had to launch in time for National Coworking Day (18th May) which gave me less than 5 months...
Read 25 tweets
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Olúwatósìn Olaseinde
@tosinolaseinde
GTB has released its results for the 1st half of the year.
And we crunched the number for you.
Pls grab a seat

GTB made N120 Billion interest income and 28% of that income is from assets like Treasury Bill.

A whooping N35 Billion came from investing in Treasury Bills etc
Although about N1Trillion was given out as loans to customers. Similar number as at June 2018 and June 2019

The interest on loans to customer as at June 2018 compared to June 2017 dropped by N10 Billion

Timing of when the loans where given out might have played a role here
It also made a whopping N5 Billion on maintenance charges and another N5 Billion on corporate finance fees
It’s e business income doubled to N6 Billion within 1 year

GTB makes N26 Billion on fees and commission income
Similar in size to 20% of its core revenue driver
Read 6 tweets
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MichaelKitces
@MichaelKitces
Woa, some MEGA advisor #FinTech news just out... @ENVintel is acquiring @MoneyGuidePro. For half a BILLION dollars of cash + stock...

The waves from this will be rippling across the entire industry...
From the strategic perspective, the @MoneyGuidePro deal makes a ton of sense for @ENVIntel. MGP has a massive client base, including a huge overlap with Envestnet's own broker-dealer enterprises. It lets Envestnet expand market share and wallet share where it already is.
It's somewhat awkward that Envestnet acquired FinanceLogix in 2015 and is now ALSO acquiring MoneyGuidePro. Based on Jud Bergman's comments at the recent #T32019 advisor #FinTech conference, he sees FinanceLogix as 'basic' planning and MGP filling in a middle tier.
Read 13 tweets
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Good Governance 🇮🇳
@sri9011
#StartUp era has truly dawned in India . #Startups boom
GOOD NEWS
India's fintech #startups soared 3X during 2015-18; second highest globally, says report financialexpress.com/industry/sme/i… … … '
Over 1,300 startups (close to 3-fold growth) to the existing base of 737 startups in the fintech space taking the total count to around 2,050,
India is the 5th most #startup friendly country in the world
Read 8 tweets
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Yinka Ogunnubi
@yinkanubi
I had it in mind to do a thread on the #Fintech and #epayment landscape in Nigeria since about 2 weeks now. I had extracted the data and even analysed them. But never got around to sharing them. Too many distractions. 😊 So this is a data dump. Let's analyse together.

A THREAD!
Within the last 3 years there has been significant increase in epayments. For instance, the volume on NIPS (Nibss Instant Pay) went up by 372% from 154 Billion transactions in 2016 to 730 Billion in 2018. And value went up by 111%, from N38Trillion in 2016 to N80Trillion in 2018.
For POS transactions, the story is similar. Transaction volumes went up by 349% from 64 Billion in 2016 to 286 Billion in 2018. While in terms of values, it went up by 206% from N758 Billion in 2016 to N2.3 Trillion in 2018.
Read 21 tweets
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Sameer Sankhe
@samsankhe
1/ Which is the world's most valuable #unicorn ?

A: Uber
B: Airbnb
C: SpaceX
D: Ummm ... none of the above

Read on ...

#valuation #privatecompanies #mobilepayments #fintech #ecommerce #strategy #startup #founders #entrepreneur sam33r.com/home/alipay
2/ At $150bn valuation @AntFinancial Services Group, which was spun out from #Alibaba in 2014, and one which owns China’s biggest payments app, #Alipay, is the biggest #unicorn in the world.
3/ Drivers of Ant Financial's $150bn valuation:

1: Size of #mobilepayments market in #China : ($13 trillion - 61.8% transactions globally)
2: Growth
3: 700 MM smartphone users
4: 76% of of those made a mobile PoS purchase in 2017
5: Penetration: street vendors accept m-payments
Read 5 tweets

Trending hashtags

#startup #team #takenotes #Asia #joinforces #demographics #Japn #passion #TechFin #T32019 #TaxScam #SOTU #ElevatorPitch #demograhics #Turkey #turnitoffandonagain #amsyong #brexit #Aadhaar #FinTech #asia #GBP #socialmedia #Eurasian #Taiwan
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