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19.5¢ openpay group ltd

I wonder if Sezzle and ZIP will merge now that this ship has...

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mrspeculator

3,616 Posts.

330

06/02/23

17:51

Post #: 66101959
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Originally posted by prosperity: ↑

Agreed. The writing was on the wall for months. It was on a very fragile standing. It just took one party to default and the company would collapse. Funny that the man that stands to lose the most, let the company collapse. You would think Meydan would have tried to save his ~$50M equity investment at all costs, but it appears he's happy to take $10M back in debt and call it evens.

Without Meydan it is unlikely Openpay will secure further funding. If you look at the numbers, the company is gradually becoming profitable (just not by June 2023). It's a pity Openpay won't have the chance to report its first profits. However, BNPL players should suss out Openpay for an opportunity to diversify their offerings and tackle a niche sector, which tends to have more financially savvy investors.

After OP Fiduciary is repaid, there is an opportunity to take control back and trade Openpay to profit. With about another $100M investment, I can see Openpay reporting self-sustainable profits.

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I wonder if Sezzle and ZIP will merge now that this ship has sunk. This is the second domino to fall.

OPY Price at posting: 19.5¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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