Alternative Metrics, page-73

My position is basically that continued merchant growth is a positive sign that supports my thesis. Of course the quality of the merchant and its turnover are more important.

In AUS most merchant growth is in SMB area which shows network effect growing. I imagine APT will confirm this in the full year update.

Princess Polly has been announced and is live with 25 other merchants on the US store - https://www.afterpay.com/categories/all-stores

Still got 25 to find out and even if 1 is half as big as UO that would be great!