Adyen

Last updated

Adyen N.V.
Company type Naamloze vennootschap
ISIN US00783V1044  OOjs UI icon edit-ltr-progressive.svg
Industry Payment processor, technology, e-commerce, point of sale
Founded2006;18 years ago (2006)
Founders
Headquarters
Amsterdam
,
Netherlands
Key people
  • Pieter van der Does (CEO)
Services Payment service provider, gateway, risk management, local acquiring, point of sale, issuing
RevenueIncrease2.svg €1.19 billion (2022) [1] : 129 
Increase2.svg €649 million (2022) [1] : 129 
Increase2.svg €564 million (2022) [1] : 129 
Total assets Increase2.svg €7.09 billion (2022) [1] : 130 
Total equity Increase2.svg €2.41 billion (2022) [1] : 130 
Number of employees
3,883 [2]  (2023)
Website www.adyen.com
Footnotes /references
[1]

Adyen is a Dutch payment company with the status of an acquiring bank that allows businesses to accept e-commerce, mobile, and point-of-sale payments. It is listed on the stock exchange Euronext Amsterdam. [3]

Contents

Adyen offers merchants online services for merchants to accept electronic payments using payment methods including credit cards, debit cards, wire transfers, and real-time bank transfers based on online banking. It connects merchants to different payment methods, including international credit cards, local cash-based methods, and mobile payment methods. The technology platform acts as a payment gateway and a payment service provider. [4]

History

Adyen was founded in 2006 by Pieter van der Does and Arnout Schuijff, now the CEO and CTO, respectively. [5] Headquartered in Amsterdam, the company employs around 2,000 people in offices in twenty-three countries. [4]

The name Adyen means 'start again' in Sranan Tongo. [6] This is a reference to this being the second project of the founders after Bibit. [7]

In 2012, Adyen started to expand globally, opening its offices in San Francisco, Paris, and London. In the same year, it obtained its pan-European acquiring a license. [8]

In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth-largest European unicorn. [9]

In 2016, it obtained an acquiring license in Brazil through a BIN sponsorship. [8] In the same year, Adyen was ranked #10 on the Forbes Cloud 100 list. [10]

In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank. [11] It also obtained acquiring licenses in Singapore, Hong Kong, Australia, and New Zealand. [12] [13]

On 24 May 2018, the company announced that it would be making the company public by listing shares publicly in Amsterdam. [14] The IPO took place on 13 June 2018. [15]

In 2019, Adyen opened new offices in Tokyo and Mumbai, and expanded its payment offering in Africa. [16] In the same year, it launched Adyen Issuing, a virtual and physical card-issuing business to complement payments services to merchants. [17]

In 2020, the company benefited from an accelerated digitalization of global ecommerce in the online retail segment, which compensated for the declining travel volumes in enterprises due to the COVID-19 pandemic. It launched mobile Android POS devices worldwide in the second half of the year. [18] In addition, it opened a new office in Dubai, expanding its offering in the Middle East. [19]

Growth

The company has been profitable since 2011. [20] Its earnings grew from $46 million in 2015 to $87 million in 2016. [20] Its gross revenue grew 99 percent in 2016 to $727 million. [21] [22] [20]

In December 2014, the company announced a funding round of $250 million led by growth equity firm General Atlantic, joined by existing investors Temasek Holdings, Index Ventures, and Felicis Ventures. [23] [24]

In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015. [25]

In 2017, Adyen surpassed €100 billion in processed volume. [8]

On January 31, 2018 eBay announced that it had signed an agreement with Adyen to become its primary payments processing partner. eBay began intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the operating agreement with PayPal. In 2021, eBay transitioned a majority of its marketplace customers to Adyen. [26]

In 2020, Adyen had a net revenue of €684 million, a 28% increase year-on-year. [27]

In 2021, net revenue hit €1 billion. [28]

In 2022, the company exceeded €1.3 billion in revenue. [29]

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References

  1. 1 2 3 4 5 6 "2022 Annual Report" (PDF). Adyen. Retrieved 10 August 2023.
  2. ↑ Venkataramakrishnan, Siddharth (17 August 2023). "Payments group Adyen defends hiring spree as shares tumble 20%". Financial Times.
  3. ↑ "ADYEN | Euronext exchange Live quotes". live.euronext.com. Retrieved 23 December 2022.
  4. 1 2 "Adyen: Our Story". adyen.com. Retrieved 17 November 2020.
  5. ↑ "Adyen on the Forbes Cloud 100 List". Forbes . Retrieved 22 September 2017.
  6. ↑ "Profile: Pieter van der Does, the man behind Adyen". Technology Magazine.
  7. ↑ "Miljardenbedrijf Adyen maakt hoge verwachtingen voorlopig waar". NOS. 22 August 2018. Retrieved 30 October 2018.
  8. 1 2 3 "Adyen Annual Report 2019". Adyen. Retrieved 2 December 2020.
  9. ↑ "The European unicorn unbanking the merchant". Hot Topics. 26 October 2015. Retrieved 27 October 2015.
  10. ↑ "Forbes Cloud 100". Forbes . Retrieved 29 October 2016.
  11. ↑ "Dutch payments processor takes pan-European license to bypass banks". Reuters. 26 June 2017. Retrieved 22 September 2017.
  12. ↑ hermes (9 September 2017). "Payments tech provider targets Asia-Pac expansion". The Straits Times. Retrieved 15 September 2017.
  13. ↑ Finextra (7 September 2017). "Adyen expands direct credit card acquiring capabilities to include Singapore". Finextra Research. Retrieved 15 September 2017.
  14. ↑ "A Dutch payment giant backed by Mark Zuckerberg and used by Uber is going public". Business Insider. Retrieved 25 May 2018.
  15. ↑ "Adyen knalt omhoog na beursgang". NU.nl (in Dutch). 13 June 2018. Retrieved 13 June 2018.
  16. ↑ "Adyen expands its global payment offering to Africa". Global Banking & Finance Review . 7 June 2019. Retrieved 2 December 2020.
  17. ↑ "Adyen keeps focus on organic growth as it launches cards product". Reuters . 14 November 2019. Retrieved 2 December 2020.
  18. ↑ "Shareholder letter H2 2020". Adyen. Retrieved 10 February 2021.
  19. ↑ "Dutch payment giant Adyen to expand into the Middle East, opens Dubai office". Silicon Canals . 11 November 2020. Retrieved 10 February 2021.
  20. 1 2 3 "The next big payments IPO could be a fast-growing startup not named Stripe". 12 April 2017. Retrieved 22 September 2017.
  21. ↑ Kharpal, Arjun (12 April 2017). "Adyen, the $2.3 billion firm that processes payments for Uber and Netflix, saw 2016 revenues rise 99%". CNBC. Retrieved 15 September 2017.
  22. ↑ Rogers, Bruce. "Payments Company Adyen Scales To New Heights". Forbes. Retrieved 15 September 2017.
  23. ↑ Chapman, Lizette. "Payment Startup Adyen Raises $250 Million at $1.5 Billion Valuation". The Wall Street Journal. Retrieved 16 December 2015.
  24. ↑ "Adyen Raises $250 Million in Funding to Accelerate Growth of Its Global Payments Platform". General Atlantic website. Archived from the original on 21 July 2016. Retrieved 16 December 2015.
  25. ↑ Choudhury, Saheli Roy (8 February 2017). "Company behind Facebook, Uber and Netflix payments reveals huge transaction growth". CNBC . Retrieved 22 September 2017.
  26. ↑ "EBay Rises to Record High on Shift to Adyen; PayPal Tumbles". Bloomberg. 31 January 2018 – via www.bloomberg.com.
  27. ↑ "Adyen publishes H2 2020 financial results". 10 February 2021. Retrieved 10 February 2021.
  28. ↑ "Adyen". Adyen.
  29. ↑ Adyen. "Adyen". Adyen. Retrieved 26 July 2023.
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