As per the latest reports swirling in the tech media world, Adyen, the Amsterdam-based and Silicon Valley-backed digital payments company is prepping itself for an IPO. Reportedly, the company is targeting a valuation of € 6-9 billion ($7-$11 billion).
Recently in January 2018, Adyen got into a deal to handle payments on eBay’s online marketplace (replacing digital payment giant PayPal). The impressive Dutch startup is working with Morgan Stanley and JP Morgan Chase for its IPO listing. Close on the heels of Spotify’s IPO filing, Adyen’s listing would be one of the biggest in Europe for a company. This augurs well for other startups, especially in the Fintech space, that have set shop in Europe.
While the company refused to comment right now, reports are rife that Adyen might announce the developments by the end of May 2018. And it could also announce about the possible listing on Euronext in Amsterdam in June 2018. Meanwhile, the final figures of last year are expected to be out in April itself.
While the company pulls things together to set up the stage for IPO listing, here today Silicon Canals has compiled a list of important things you should know about one of the hottest tech startup out of Amsterdam. Take a look at it below.
5 things to know about Adyen
#1 Netherland’s pride Adyen is an online payment platform that enables businesses to organize and process their payments from customers via different channels. There are more than 250 different payment methods both online and offline. Adyen’s client list includes some big names like Facebook, Spotify, Netflix, Uber and more.
#2 Adyen was established in 2006 by Dutch entrepreneurs Pieter van der Does and Arnout Schuijff and has employed more than 500 people till date. The company was valued at $2.3 billion (around €1.8 billion) in 2015 in an investment round headed by Iconiq Capital, a Silicon Valley fund supported by billionaires involving Facebook’s Mark Zuckerberg and Twitter cofounder Jack Dorsey.
#3 Apart from the chief investor, Iconiq Capital, their investor portfolio includes General Atlantic, Temasek, Index Ventures, and Felicis Ventures. In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015. Overall, the company witnessed a rapid growth in recent years, with its revenue almost doubling to $727 million in 2016.
#4. Adyen’s biggest competitors in the market are WorldPay, US-based payment processor recently named as Vantiv and French payments company Worldline SA.
#5 Adyen is a proud Dutch unicorn as it is one of the pioneer private companies with a valuation of more than $1 billion. Now the company is expanding its international footprint with an entry in Asia Pacific market, starting with focus on Singapore. At a media conference recently, CCO Prins was quoted saying, “We feel there are so many more markets for us out there, many more industries for us to continue that growth path.”
Stay tuned to Silicon Canals for more updates on Adyen in the coming weeks.