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DeepNewz, mobile.
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Plaid, the fintech company, experienced a revenue growth slowdown to 12% last year, reaching $308 million. However, the company is now pursuing three new lines of business and expects to grow 20% this year. Plaid is projected to achieve approximately $370 million in revenue this year with 80% gross margins. Despite burning $50 million this year, Plaid has $140 million in the bank and is currently valued at around $3.8 billion. Former Billionaire CEO Zach Perret is leading the company's aggressive expansion strategy after its valuation dropped from $13.4 billion in 2021.
After being valued at $13.4 billion in 2021, fintech’s data plumber saw growth slow dramatically. Now CEO Zach Perret is moving aggressively into three new lines of business. https://t.co/OPW0xmMrkW https://t.co/jUEqUrstDD
Plaid’s Former Billionaire CEO Has A Bold Plan To Revive Its Growth https://t.co/KMdxODlkGP https://t.co/qgn6aYICeN
Plaid is doing $308 million in revenue and growing 20%. How much are they worth? >10x revenue is a reasonable starting point. if you look at public market comps, Plaid maps most closely to the "Financial Data & Analytics" sector. that sector trades 7.6x revenue vs 4.2x for… https://t.co/PPHpe3zh03
