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Daily Crunch: Visa makes a $5.3 billion acquisition

9 days ago   |   By Tech Crunch

The Daily Crunch is TechCrunch's roundup of our biggest and most important stories. If you'd like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here .
1. Visa is acquiring Plaid for $5.3 billion, 2x its final private valuation
You can compare what Plaid does to Stripe - but instead of facilitating payments, Plaid helps developers share banking and other financial information more easily.
Plaid raised $250 million at the end of 2018, with both Mastercard and Visa quietly participating in the round. So Visa must be pretty happy with how the startup...
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A look inside Visa's shareholder presentation for the $5.3B Plaid deal

A look inside Visa's shareholder presentation for the $5.3B Plaid deal

9 days ago   |   By Tech Crunch

Fresh off the news yesterday that Visa is buying fintech unicorn Plaid for $5.3 billion , the payments giant is making its case to its shareholders. Given the scale of the deal, and the implied bet that Visa is making on the future of its market, the company prepared a presentation, which means we get to peer into its thinking regarding Plaid itself and the fintech market as a whole.
In a short deck, Visa argues that buying Plaid will: 1) provide it with deep access to an exploding market , 2) help it boost growth and 3) provide a means to expand Visa's total addressable market by building...
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Here's why Visa made its bold play for buzzy fintech Plaid in a $5.3 billion mega-acquisition, despite knowing the risks

Here's why Visa made its bold play for buzzy fintech Plaid in a $5.3 billion mega-acquisition, despite knowing the risks

9 days ago   |   By Business Insider

Visa, the world's biggest payments provider, is set to acquire US payment infrastructure startup Plaid for $5.3 billion, in one of the largest acquisitions of a financial services startup to date and vindication for the buzzy fintech market.
Business Insider spoke to industry experts on what the deal means for both Visa and Plaid to see if the deal made sense, what it would mean, and how it could work.
Experts cited network effects as an advantage for Visa, since Plaid connects to developers, customers, and banks.
"It does make sense when you look at other moves in this space," according...
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Visa's $5.3 Billion Acquisition of Plaid Will Send Shockwaves Through the Industry

9 days ago   |   By Fortune

This article originally ran in Term Sheet, Fortune's newsletter about deals and dealmakers. Sign up here.
We live in a time of epic deals. I audibly gasped yesterday when I found out that Visa agreed to buy Plaid , a fintech company that connects users' bank accounts to apps and services, for an eye-popping $5.3 billion. That's two times more than Plaid's most recent private valuation - a huge win for its venture investors.
In late 2018, Plaid raised $250 million in Series C funding at a $2.65 billion valuation. The round was a who's who of Silicon Valley: Mary
Meeker led the financing...
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