Advertisers Expected to Tackle Serious Issues in Super Bowl Spots

Advertisers are expected to address issues pertaining to social justice and the pandemic during Super Bowl LV spots.

By /
The Potential NIL Power of Sarah Fuller

If college athlete name, image, and likeness rules had already taken effect, Fuller might have completed one of the most lucrative kickoffs in college sports history.

By /
Despite Some Miscues, ISL Provides ‘Hope’ for Professional Swimming

While swimmers have bought into the ISL, there’s a disconnect between the on-deck product and off-deck antics.

By /

Lender Affirm, a Peloton Partner, Looks to Raise $935 Million in IPO

    • Peloton accounted for about 28% of Affirm’s total revenue in the 12 months through June 2020.
    • This article was first published in the FOS AM newsletter. Subscribe here.
Peloton

Daily Newsletter

Sign up and see why influential business executives call it a “morning must-read.”

Affirm Holdings, a lender that provides payment installment loans for online shoppers, is seeking nearly $935 million in an IPO. The San Francisco-based company will reportedly begin trading on Jan. 13. 

Affirm plans to sell 24.6 million shares at $33 to $38 each, it said in a filing on Tuesday. Based on outstanding shares listed in the filing, the company would have a market value of $9.22 billion after the IPO. 

More than 6,500 merchants use Affirm’s technology to offer shoppers payment schedules at an annual interest rate of 0% to 30%. 

Connected fitness company Peloton accounted for about 28% of Affirm’s total revenue in the 12 months through June 2020. The companies offer 0% APR financing on Peloton equipment purchases, which start at $1,895. 

Affirm’s next nine biggest clients accounted for less than 10% of revenue combined. The company listed its dependence on Peloton as a potential risk factor in the IPO filing. 

Founded in 2012 by PayPal co-founder Max Levchin, Affirm made $510 million in its last fiscal year, a 93% increase over the prior year.

Related
GameStop Stock Continues WallStreetBets-Fueled Surge

Wednesday’s spike occurred even after reports emerged that short sellers had largely covered their positions.

By /
New Liberty Media SPAC Speeds Toward Deal

The SPAC raised $500 million in its Thursday IPO and is now seeking an acquisition target in technology, media, music or telecommunications.

By /
GameStop Trading Halted After Incredible Spike

The stock is a darling for Reddit’s WallStreetBets, the community behind much of the surge — including the recent push short squeeze.

By /
Former WWE Co-Presidents Launch New SPAC With Sports In Mind

Last year, there were more than 250 SPAC shell companies listed in the U.S., raising nearly $79 billion for acquisitions.

By /