Stefan the numbers don't lie no matter how much after pay coolaide you drink!!
it often happens culture of a company is lost or abandoned in chase of the profit this is where afterpay is now. Zip on the other hand is run by professional leadership who understand the pains of finance and experienced running a company.
afterpays ceo ran an online jewellery shop on eBay and is way out of his depth running a multi billion dollar company. culture comes from the top down. And zips management is clearly better regarded and run a better business - this is based on Glassdoor scores averaged of employees. That's not a lie that's a good gauge on internal performance and culture
again the numbers don't lie. Zip was able to achieve 252 million revenue off the back of 3.2 billion ttv.
afterpay was only able to achieve 251.6.millionrevenue in their yearly 2019 results of the back of 5.2 billion TTV.
now I've gone over to afterpay thread and highlighted this and asked does anyone know why.
one numpty said zip only made 160.million and said we shouldn't include quadpay annual results. I said bs they are owned by zip and to be included
another person said afterpay are growing so quickly and have to invest to grow to win markets. This doesn't explain why they are so bad at getting revenue off TTV.
i suggested the model zip have where they are charging both the consumer and the merchant for the value they are getting is probably generating higher revenues. And the response I got was afterpay is probably going to move to this model in the future.
zip and quadpay have also released their one time credit card allowing purchases from any website.
lets think for a minute what this is like for the merchant. Do they want to spend 50 K for each integration into 5 different bnpl or do they want some kind of way to allow any shopper to use bnpl on their website
i think one time credit cards are a great way to leverage bnpl and also not limit the merchant of a customer and not limit a consumer from buying anywhere they want
zip and quadpay are market leading in their thinking, strategy and execution.
Stefan the numbers don't lie no matter how much after pay...
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