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, say two people familiar with the situation. The Oakland company was last valued at $4.3 billion. It will likely IPO in the first half of next year, one person says. The company declined to comment. Marqeta powers payments for businesses that issue debit cards to their workers and customers, giving them more control over which transactions are approved. Instacartto help prevent its grocery deliverers from adding their own personal items to a customer’s order. It does that by restricting the dollar amount that can be charged to a debit card when it’s swiped at a register. Marqeta makes transaction-based revenue on every Instacart order.
As the coronavirus continues to hit record-high daily cases in the U.S., consumers are skipping in-person visits to stores and opting for digital-based services. In addition to Instacart, several companies benefitting from this trend are large Marqeta clients, including food delivery platforms DoorDash and Postmates, buy-now, pay-later service Affirm and SquareMarqeta’s 2019 revenue exceeded $300 million, doubling the prior year’s level and marking four consecutive years of 100% growth.
While the stock market indexes have largely bounced back from their March lows, most businesses—from retail stores to banks—are still reeling. Yet some financial technology companies are thriving. North Carolina-based Ncino, which provides software to help small banks run more efficiently, went public earlier this week and saw its stock surge nearly 200%. Jack Dorsey’s Square is up 43% since the S&P 500’s all-time high in February.
Google should be boycotted Google has removed Palestine from the map.
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