Celebrities and dignitaries turned out in droves for the Handa Opera on Sydney Harbour on Friday night.
Afterpay co-founder Nick Molnar has signalled the top priority for the company under its new owner Block will be to accelerate its growth.
The US group led by Twitter founder Jack Dorsey has cleared the final regulatory hurdle needed to complete the biggest takeover in Australian corporate history.
The $39 billion takeover of Afterpay has passed a key hurdle,after shareholders in the acquiring company Square approved a plan to issue more stock for the deal.
Afterpay has had its fair share of doubters and true believers. Now the local market will need to get its head around Square,the payments behemoth started by Twitter billionaire Jack Dorsey,
On this episode of Please Explain,business editor John McDuling joins Tory Maguire to discuss how Afterpay became the subject of Australia’s largest ever corporate deal.
Square’s $39 billion acquisition of BNPL darling Afterpay has been hailed as the clearest sign of the Australian technology sector firing on all cylinders.
“Australian shareholders are now going to own a quarter one of the great fintech businesses in the world,” said venture capitalist Mark Carnegie.
The biggest corporate takeover deal in Australian history will turn a host of key staff members and early investors in Melbourne headquartered Afterpay into instant multi-millionaires.
Afterpay co-founder Nick Molnar says he will be hanging onto his stake in the merged business as it attempts to take on credit cards.
The timing of Afterpay founders Anthony Eisen and Nick Molnar might have been marginally off but with an onslaught looming,their decision to sell their juggernaut makes a lot of sense.