Michael and Johnny look at Paystack, the Nigerian Payments company recently acquired by Stripe for $200 M. We look at its history, it's co-founders' background, discuss its keys to success, the future outlook for the company, and the overall ecosystem, before wrapping up with our Rich Tech Poor Tech analysis.
In the News of the Week, Tiktok has received yet another extension to sell their US based business, Tony Hseih, the influential former Zappos CEO has unfortunately passed away, and AWS suffered an outage while trying to increase capacity for one its services.
Recorded Date: Sunday, November 29, 2020
Time Stamps
- 00:00:18: News of the Week
- 00:11:40: What is Paystack?
- 00:21:10: Keys to Success
- 00:33:37: Rich Tech Poor Tech
Highlights
- Tiktok has received another extension to sell their US business
- Tony Hseih's untimely passing on November 27th - CEO of Zappos, worked on revitalizing the old downtown of Las Vegas
- AWS had an outage in one of their regions while trying to increase capacity for one of their services, knocking out a good portion of websites and connected devices
- Paystack, the great Nigerian payments company recently acquired by Stripe for $200 M
- Paystack is doing 5 times the volume what Nigeria was doing 5 years ago in terms of online payments
- Should Paystack have remained independent? Should the Nigerian government have prevented the acquisition?
- Will this acquisition spur a wave of acquisitions from Paystack's other big investors, Visa and Tencent?
- How much more would it have cost Stripe to build a Paystack competitor?
- Is Paystack a Rich Tech or Poor Tech company?
Links
- ByteDance gets another extension from US government for TikTok sale
- Tony Hsieh, Zappos Luminary Who Revolutionized the Shoe Business, Dies at 46
- Prolonged AWS outage takes down a big chunk of the internet
- Paystack
- The Paystack Story - Interview with Cofounder/CTO
- Building from Ground Up with Shola Akinlade, CEO - Paystack
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