Adyen battles to keep above water as founders lose $2bn

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/07/European-shares-down.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>Often described as a pandemic champ and worthy competitor to digital payment giants such as PayPal (PYPL) and Stripe, Adyen suffered the brunt of this decline in August. After reporting an all-time low in revenue growth, investors baulked, expunging $20bn in market value. The founding duo’s 3% stake in the company currently carries a value of $1.33bn.</p>
<p>Founded in 2006, Adyen partnered with well-known brands such as Spotify, Uber, and Booking.com as a payment option. It made its mark as a serious market competitor when eBay selected Adyen as its primary go-to instead of PayPal.</p>
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<p>Adyen went public in the same year and topped the charts as Europe’s biggest IPO in 2018. This launched Schuijf and Van Der Does into billionaire status.</p>
<p>Although COVID-19 took its toll on many businesses, digitised outfits such as <a href="https://www.leaprate.com/financial-services/exchanges/euronext-amsterdam-welcomes-adyen-n-v/" target="_blank" rel="noopener">Adyen</a> flourished during the pandemic as people took to online shopping during the lengthy lockdowns. During the first half of 2021, this payment provider recorded a 67% year-on-year increase in payment volumes.</p>
<p>Worldwide, consumers tighten their belts as global economic pressures persist, seemingly striking the midnight bell and turning Adyen’s carriage into a pumpkin. The company scheduled an investor day for 8 November to discuss future financial growth and strategy.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/adyen-battles-to-keep-above-water-as-founders-lose-2bn/">Adyen battles to keep above water as founders lose $2bn</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>