Affirm (company)

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Affirm Holdings, Inc.
TypePublic company
NasdaqAFRM
IndustryFinance
Headquarters,
U.S.
Key people
Max Levchin
ProductsConsumer loans, Installment loan
RevenueIncrease $510 Million (2019)[1]
Number of employees
1200
Websitewww.affirm.com

Affirm, legally Affirm Holdings, Inc. is a publicly traded financial technology company headquartered in San Francisco, United States.[2] Founded in 2012, the company operates as a financial lender of installment loans for consumers to use at the point of sale to finance a purchase.[3][4]

History and founding[edit]

Affirm was founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell[5][6][7] as part of the initial portfolio of startup studio HVF.[8] Levchin, who co-founded PayPal, became CEO of Affirm in 2014.[9]

In October 2017, the company launched a consumer app that allowed loans for purchases at any retailer.[10]

The company announced a partnership with Walmart in February 2019. Under the partnership, Affirm is available to customers in store and on the Walmart website.[11][12]

Since its founding, Affirm has partnered with e-commerce platforms including Shopify,[5] BigCommerce, and Zen-Cart.[13]

On November 18, 2020, Affirm filed with the Securities and Exchange Commission in preparation for an IPO.[14] On December 12, 2020, it was reported that Affirm had decided to postpone its IPO.[15]

On January 13, 2021, Affirm launched its initial public offering on NASDAQ. 24,600,000 shares of common stock were issued to the public at a price of US $49.00 per share.[16]

References[edit]

  1. ^ Mazzilli, Meredith; Balogh, Shannen (November 19, 2020). "Affirm's IPO paperwork shows Peloton sales are a crucial part of the buy now, pay later fintech's business — and losing that partnership would 'materially and adversely' impact it". Business Insider.
  2. ^ "Affirm, Inc.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2019-05-08.
  3. ^ "Affirm: Most Innovative Company". Fast Company. Retrieved 2019-03-24.
  4. ^ December 11, CBS News; 2018; Am, 7:46. ""Buy now, pay later": Critics concerned about new online payment plans". www.cbsnews.com. Retrieved 2019-05-08.CS1 maint: numeric names: authors list (link)
  5. ^ a b KOKALITCHEVA, Kia (October 27, 2015). "Lending company Affirm takes on bricks and mortar shopping". Fortune. Retrieved 2019-03-24.
  6. ^ Friedman, Zack. "Is PayPal Co-Founder Max Levchin Making The Next Credit Card Killer?". Forbes. Retrieved 2019-05-08.
  7. ^ "Analytics and Software". Founders Fund. Retrieved 2020-08-03.
  8. ^ MacMillan, Douglas (2014-06-09). "PayPal Co-Founder Max Levchin Raises $45 Million for Startup Affirm". WSJ. Retrieved 2019-03-24.
  9. ^ D'Onfro, Jillian. "PayPal Cofounder Max Levchin Is The New CEO Of A Finance Startup That Has Quietly Raised $45 Million". Business Insider. Retrieved 2019-03-24.
  10. ^ Cagle, Susie (2017-11-29). "Would You Take Out a Loan for a Pair of Jeans?". Racked. Retrieved 2019-03-24.
  11. ^ Wack, Kevin (February 27, 2019). "Walmart teams with Affirm to offer point-of-sale loans". American Banker. Retrieved 2019-03-24.
  12. ^ "Affirm's latest partnership brings its alternative financing to Walmart's US stores and website". TechCrunch. Retrieved 2019-05-08.
  13. ^ PYMNTS (2016-11-30). "Affirm Supports Four More eCommerce Platforms". PYMNTS.com. Retrieved 2019-03-24.
  14. ^ https://techcrunch.com/2020/11/18/affirm-files-to-go-public/
  15. ^ https://www.wsj.com/articles/affirm-postpones-initial-public-offering-sources-say-11607801619
  16. ^ Reuters Staff (2021-01-13). "Affirm Holdings prices U.S. IPO above target range, raises $1.2 billion". Reuters. Retrieved 2021-01-14.

External links[edit]