Affirm Prepares IPO That Could Value Fintech Firm at Up to $10 Billion
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
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
Write to Cara Lombardo at firstname.lastname@example.org, Telis Demos at
email@example.com and Corrie Driebusch at
(END) Dow Jones Newswires
July 30, 2020 17:23 ET (21:23 GMT)
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