Seeking Alpha
2021-08-02 21:41:58

Affirm CEO: Square's Afterpay deal validates the entire industry, crypto transitioning to mainstream

Max Levchin, co-founder and CEO of Affirm (NASDAQ:AFRM), sidestepped questions about whether his company would become a potential takeover target in the wake of a high-profile $29B deal for Square (NYSE:SQ) to buy rival Afterpay, but said the merger "unequivocally" offered "a validation" for the category as a whole. In an interview with CNBC, Levchin also suggested that the company could be considering accepting cryptocurrency, saying that Affirm will "go where merchants want to go." Levchin's comments followed the announcement of a $29B all-stock deal for Square to acquire buy-now-pay-later service Afterpay. The news gave a boost to Affirm, likely on speculation that the company could become a takeover target. Levchin didn't directly answer questions about potential suitors, saying he couldn't see the future but noting that Affirm has historically been an acquirer. On the Square/Afterpay merger, the Affirm CEO said it "serves as a powerful statement" that the "world

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