Business
Insiders still selling at Afterpay and Zip – The Australian Financial Review
The loss-making buy now, pay later sector has taken up where it left off in 2020, with huge capital calls at the same time as early investors sell out.
Afterpay also used its $1.5 billion raising in 2021 to let early US venture capital backer Matrix Partners and US employees sell their shareholdings back to it for huge profits.
For early investors and founders the model of raising money and selling down at ever higher valuations via strong headline growth metrics works out brilliantly, as long as the market prioritises growth over cash profits.
Two raisings and two sell-downs from both companies in a little over nine months suggests todays share…
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