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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Shopify Inc | NYSE:SHOP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.73 | 1.03% | 71.28 | 71.83 | 70.735 | 71.19 | 4,611,460 | 00:59:11 |
By Cara Lombardo, Telis Demos and Corrie Driebusch
Affirm Inc. is laying the groundwork for an initial public offering that could value the financial-technology startup at as much as $10 billion, according to people familiar with the matter.
The point-of-sale lender is working with Goldman Sachs Group Inc. on a potential listing, the people said. The preparations are at an early stage and the company may not move forward with one. Affirm could also sell itself, potentially to a so-called blank-check company, they said.
Affirm offers online shoppers the ability to pay for goods in installments through short-term loans. The option to finance purchases with Affirm appears on the websites of thousands of merchants ranging from Walmart Inc. to Expedia Group Inc. Earlier this month Affirm said it was partnering with Shopify Inc. to make the function available to the fast-growing e-commerce platform's merchants, expanding its reach further.
Affirm was valued at $2.9 billion in April 2019, according to PitchBook, but its target has risen since then -- to more than $5 billion and possibly as high as $10 billion, some of the people said. Depending on market conditions and how quickly the company decides to move, its shares could begin trading sometime this year.
Write to Cara Lombardo at cara.lombardo@wsj.com, Telis Demos at telis.demos@wsj.com and Corrie Driebusch at corrie.driebusch@wsj.com
(END) Dow Jones Newswires
July 30, 2020 17:23 ET (21:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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