Adyen will be going public in June. It has been confirmed they will be listing shares in the company on the Euronext stock market in Amsterdam next month.
The initial public offering (IPO) is apparently expected to value the company at between €6 and €9 billion. If that happens, it would be the biggest European tech IPO valuation since Spotify went public earlier this year. According to reports, the existing shareholders plan to sell around 15% of what they hold at IPO.
Adyen is a Dutch payments processing company that already helps some lustrous names: Airbnb, Facebook, Etsy, Uber, Spotify, Vodafone and Netflix. But the recent eBay deal, which will see it process all of the marketplace payments and sideline PayPal, must have been a big boost. Adyen is probably one of the most significant companies that people have used but have never heard of. It’s understood that in 2017 the company processed roughly €108 billion in payments for several thousand merchants
Our focus remains on building new functionality and on helping our merchants grow. This offering provides us with the freedom to keep building the company, while offering our shareholders a path to liquidity. Adyen will remain a company that is driven by a long-term vision and strategy.
– Pieter van der Does, Co-founder and CEO, Adyen
And the eBay deal could be a revenue raiser too as they will be processing all the payments on the global marketplace’s various sites as the partnership rolls out over the the next few years. eBay has said that it forecasts the new arrangements could net it as much as $500 million in operating profit per year.
Even if Adyen takes a reasonably small share of payments processed, then it will be see significant income. As it stands we have no detailed idea how the new system will work, and what share Adyen will take, but they are clearly bullish about the future.