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I don't know if I agree. Adyen is worth $45 billion euros (so $45 billion :) .) From their last annual reports, Adyen '21 GPV: $561B +70% YoY; Stripe '21 GPV: $640B +60% YoY but Stripe has ~2x take rate on Adyen because they are more PLG versus Adyen has many more enterprise customers.

So $74b is probably about right or maybe even low?

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> So $74b is probably about right or maybe even low?

Of course you are assuming that Adyen is somewhat fairly valued :) . That's the problem with comparative valuations IMO. If company A valuation = company B valuation and company A itself is overvalued, it doesn't mean they are both fairly valued,no?

If the public market is suggesting that, not a bad benchmark to have a quantitative figure.

Totally agree. Just something to watch out for. If the market is giving a multiple of 25 today and it drops to 10 in a year , one needs to be aware that’s all

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