After helping some 40 million users discover billions of pages with interesting stuff from across the web over since the early noughties, StumbleUpon is shuttering its content curation and discovery platform today. The service was arguably one of the first of its kind when it launched in 2002, providing users with a dead-simple way to find new sites to visit, articles to read, and pictures and video to gawk at. It also happened to arrive at a time when people were graduating from using the internet for essential functions like research and monetary transactions, to killing time and sharing things… This story continues at The Next Web
If you only read United States-based media, you might think that Stripe is the most valuable, buzziest payments startup around. But it’s a different story across the pond in Europe. There, the most celebrated payments startup is an Amsterdam-based company called Adyen, which is both profitable and growing rapidly.
Now, Adyen is claiming its place in the spotlight. The company announced today that is plans to IPO in Amsterdam next month, seeking a valuation of between €6 billion ($7 billion) and €9 billion ($10.5 billion).
While Stripe has carved out a niche serving small-scale retailers and app developers, Adyen has pursued bigger companies with global businesses. Clients include Airbnb, Facebook, Netflix, Spotify, and Uber—digital-first giants with the need for mobile-friendly solutions and cross-border functionality. When eBay ditched PayPal in January, leaving its former acquisition high and dry, the online marketplace chose Adyen as its new processor.
“The unique differentiator of Adyen, they combine the financial services know-how—all the licenses, all the regulatory approvals across the world—with pretty incredible scalable technology,” Jan Hammer, a partner at Index Ventures, told Fast Company last year. “Because it’s all in the cloud, the most profound bit—their cost of processing is almost zero.”
Last year, Adyen posted net revenue €218 million, an increase of 38%. It was also profitable on an EBITDA basis, with earnings before interest, taxes, depreciation, and amortisation of €99 million.
London-based Index is Adyen’s largest investor. In addition, the company is backed by Iconiq Capital (a Silicon Valley fund that counts Mark Zuckerberg as an LP), Felicis Ventures, and General Atlantic.
Adyen plans to sell 15% of its shares in the offering.
Elon Musk, a billionaire playboy whose parents weren’t murdered in front of him outside of a theater (yet still seems to think he’s Batman), today stopped rocketing cars at the sky long enough to rage-tweet his displeasure with journalists’ criticisms of Tesla. As best we can tell, it all started when Elon tweeted an article from a news source that quoted someone saying “despite” media negativity, Tesla could “rally.” The holier-than-thou hypocrisy of big media companies who lay claim to the truth, but publish only enough to sugarcoat the lie, is why the public no longer respects them https://t.co/Ay2DwCOMkr —… This story continues at The Next Web