A month later, Afterpay acquired Princess
Posted: Thu Jan 02, 2025 10:17 am
Contents Timeline of Afterpay Financial Growth and Funding Afterpay Financial Performance: Revenues, Expenses, and Profits Afterpay Revenue Afterpay Expenses Afterpay Profits Potential for Profitability Conclusion Timeline of Afterpay Financial Growth and Funding 2014-2017: Antony Eisen and Nick Molnar founded Afterpay in 2014. The company started as a financial payment agent for shopping. In January 2015, Afterpay entered into a joint venture with Touchcorp, a digital payments system organization, to facilitate its payment processing.
Polly, a financial group, as its inaugural retail customer. Many software managers email lists of Princess Polly’s customers were young and didn’t own credit cards. They began using Afterpay once it was integrated into the website. In June of the same year, Afterpay raised $8 million with the help of Hugh Robertson, a stockbroker. In May 2016, Afterpay was at $1 at midday and concluded the day at $1.
25. During the first half of the 2016 financial year, Afterpay made a net loss of $1.25 million after tax. In February 2017, the company agreed to form a 60/40 merger. The deal was approximately $500 million. Under the agreement, NewCo, a newly listed entity, acquired the two companies. About 64% of Afterpay shareholders and 36% of Touchcorp investors would own the new entity.
Polly, a financial group, as its inaugural retail customer. Many software managers email lists of Princess Polly’s customers were young and didn’t own credit cards. They began using Afterpay once it was integrated into the website. In June of the same year, Afterpay raised $8 million with the help of Hugh Robertson, a stockbroker. In May 2016, Afterpay was at $1 at midday and concluded the day at $1.
25. During the first half of the 2016 financial year, Afterpay made a net loss of $1.25 million after tax. In February 2017, the company agreed to form a 60/40 merger. The deal was approximately $500 million. Under the agreement, NewCo, a newly listed entity, acquired the two companies. About 64% of Afterpay shareholders and 36% of Touchcorp investors would own the new entity.