well on your logic there is no justification for affirms and Afterpays valuations. Because they aren't delivering the growth or revenues numbers to differentiate from zip to justify its higher multiples.its the opposite now. Zip is growing faster than both of them.
Afterpay is not the first mover Klarna is.
Klarna has 45Percent of the US market so far who have signed up, Afterpay 25 percent. Afterpay shareholders keep saying Afterpay has a first mover advantage. They don't. The numbers for zip show it's growing faster.
The market valued Afterpays growth into its multiples valuation so should do the same for zip as they are near identical in that they offer a bnpl offering. Zips can just be used in more places, doesn't screw the merchants as much on fees and the company is able to generate 50 percent more revenue than Afterpay per TTV dollar sold.
zip as a global business is now growing month on month faster than afterpay. So the mould price in that zip is actually doing pretty.big numbers now annualising 7.5 billion and it's growing faster in percent month on month than afterpay.
The market will soon realise this and price zip at multiples
you saw what happened with Afterpay. The share price kept rising off FOMO and no news. And the analysts initially warned of a crash and then they changed tune. They all started saying it was the best thing and raised their targets. Odds are they all jumped on the Afterpay band wagon to make money off there rising FOMO shareprice.
But at some point as these bnpl companies continue to grow they will.be compared and priced accordingly. CBA carries a huge premium over its rival banks due to its higher margin it delivers per dollar of revenue. Zips in a similar boat, higher revenues per TTV dollar should equate to higher profits than Afterpay
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