https://www.forbes.com/sites/jeffkauflin/2020/01/13/why-visa-is-buying-fintech-startup-plaid-for-53-billion/

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Plaid CEO Zach Perret © Kevin Hu. Visa announced it will acquire Plaid—a startup that connects payment apps like Venmo and Square Cash to users' bank accounts to transfer funds—for $5.3 billion. That marks a doubling of Plaid’s value in a year. The eight-year-old San Francisco company last raised funding a year ago at a $2.65 billion valuation . In 2019, Plaid doubled its number of customers to reach 2,600, and it expanded beyond the U.S. to the U.K., Spain, France and Ireland. Visa, with its market value of $420 billion and $23 billion in revenue last year, isn’t buying Plaid for its revenue potential. Plaid’s 2019 revenue was between $100 and $200 million, according to a person fami... Full story

14 January

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