Bulletins

Affirm files for IPO

Payment company Affirm is the latest to file for an IPO, after confidentially filing in October.

The newly released S-1 shows that it brought in around $510 million in revenue for the fiscal year that ended June 30, which is 93% year-over-year growth. It had a net loss of $120.5 million and $112.6 million for the fiscal years ending June 30, 2019 and 2020, respectively.

It's a second act for PayPal co-founder Max Levchin, who started Affirm in 2012. Thrive Capital led its $300 million series F round in 2019. Other firms that will benefit include Spark Capital, Founders Fund, Khosla Ventures, Lightspeed, Andreessen Horowitz, and actor Ashton Kutcher.

Karyne Levy

Karyne Levy ( @karynelevy) is the deputy managing editor at Protocol. Before joining Protocol, Karyne was a senior producer at Scribd, helping to create the original content program. Prior to that she was an assigning editor at NerdWallet, a senior tech editor at Business Insider, and the assistant managing editor at CNET, where she also hosted Rumor Has It for CNET TV. She lives outside San Francisco.

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Bulletins