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.
But that doesn’t take away anything from the magnitude of this deal. In fact, it underscores how big Afterpay’s business model — ‘Buy now pay later (BNPL)’ has become. And so, in today's Finshots we talk about this and more finshots.in/archive/buy-no…
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