Affirm, a buy-now-pay-later service, is valued at $24B after IPO

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Affirm listed on the New York Stock Exchange this week, jumping almost 100% to almost $100 per share from the initial public offering price.

The buy-now-pay-later service, which has a strong connection to the travel sector, has a market capitalization of around $24 billion as a result of the IPO.

The U.S.-based company was created in 2012 by PayPal co-founder Max Levchin.

Affirm's listing is being considered by analysts as another sign that tech-based IPOs are helping the financial markets retain some buoyancy during an otherwise chaotic 12 months for stocks amid the coronavirus pandemic.

Airbnb's long-awaited IPO was completed in December last year.

The company works with the likes of Expedia, Delta Vacations, Priceline, CheapOAir, Suiteness and others by offering buyers the chance to secure tickets and accommodation and spread their payments over a predetermined schedule with the brand.

It makes money off the fees it charges to merchants, allowing consumers to make their payments without incurring any interest charges.

Source: PhocusWire

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