Square has made a $29 billion offer for buy now, pay later provider, Afterpay. It expects Afterpay to continue operating under its own ecosystem. Square has 70 million customers. Its network will allow Afterpay to fast-track its business in the US. Furthermore, it allows Square to compete with technology giants like PayPal and Apple. Customers are given an integrated retail experience. But the emphasis is on combining sales from online platforms and brick-and-mortar stores.
The deal gives $2.7 billion Square stock for their Afterpay shares to co-founders Nick Molnar and Anthony Eisen. Square is going ahead with a listing on the Australian Securities Exchange. These shares can be used in either US or Australian markets. Molnar and Eisen, neighbors, founded Afterpay in 2014. Both will jo...
