In 2014 two friends from Sydney created a company that transformed the way we buy and sell things online. That company, Afterpay, has become a bedrock of the online shopping experience, growing exponentially every year. Its success was cemented when it was sold for $39 billion, making it the largest corporate deal in Australian history.
Afterpay promises the allure of credit-free online shopping. But just how different is it’s business model compared to traditional credit cards and loans? Today, James Hennessy on the rise of Afterpay, and the regulatory loopholes it’s exploited to build a multi-billion dollar business.
Guest: Contributor to The Saturday Paper, James Hennessy.
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