Millennials love it. Amateur investors made millions out of it, and its founders became billionaires.
But professional investors steered clear, regarding it as over-valued.
Told in full for the first time, this is the fascinating behind-the-scenes story of the Aussie technology start-up that changed the way a whole generation around the world does their shopping.
In a few short years, Afterpay has put a rocket under consumer finance and birthed a global industry.
Buy Now, Pay Later uncovers the origin of Afterpay and its founders, from pre-World War II in Budapest, through to the Surry Hills rag trade, Wall Street and beyond.
Afterpay pioneered the four-payments model that allows customers to bypass credit cards for online shopping and budgeting, with the cost borne by the retailer.
Just five years after it was founded, Afterpay had changed the way a generation went shopping, how brands from big banks to fashion labels win customers, and how institutions value companies.
This book reveals the network of business and personal relationships that enabled the company to finance its exponential growth, It also examines the rising public concern that it is getting young people hooked on debt, the battle to escape regulation for years, and the near-death experiences.
Journalists Jonathan Shapiro and James Eyers report on banking and finance at The Australian Financial Review. They have both been covering the Afterpay story since its inception.
In 25 words or less, tell us what you learnt from the rise of Afterpay.
https://www.moneymag.com.au/win/buy-now-pay-later-the-extraordinary-story-of-afterpay
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