Adyen

Adyen was founded in 2006 by Pieter van der Does, the current CEO, and Arnout Schuijff.{{cite web|url=https://www.forbes.com/companies/adyen/|title=Adyen on the Forbes Cloud 100 List|website=Forbes |access-date=22 September 2017}} Headquartered in Amsterdam, the company employs around 2,000 people in offices in twenty-three countries.

The name Adyen means 'start again' in Sranan Tongo.{{cite news |title=Profile: Pieter van der Does, the man behind Adyen |url=https://technologymagazine.com/digital-transformation/profile-pieter-van-der-does-man-behind-adyen |work=Technology Magazine}} This is a reference to this being the second project of the founders after Bibit.{{cite web|title = Miljardenbedrijf Adyen maakt hoge verwachtingen voorlopig waar |url = https://nos.nl/artikel/2247092-miljardenbedrijf-adyen-maakt-hoge-verwachtingen-voorlopig-waar.html |website = NOS |date = 22 August 2018 |access-date = 2018-10-30}}

In 2012, Adyen started to expand globally, opening its offices in San Francisco, Paris, and London. In the same year, it obtained its pan-European acquiring a license.{{cite web|url=https://www.adyen.com/investor-relations/publication-annual-report-2019|title=Adyen Annual Report 2019|work=Adyen|access-date=2 December 2020}}

In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth-largest European unicorn.{{Cite web|title = The European unicorn unbanking the merchant|url = https://www.hottopics.ht/stories/finance/adyen-european-unicorn-merchant/|website = Hot Topics|date = 26 October 2015|access-date = 2015-10-27}}

In 2016, it obtained an acquiring license in Brazil through a BIN sponsorship.

In 2017, the company was granted a European banking license, which gave it the status of an acquiring bank.{{cite news|url=https://www.reuters.com/article/us-banking-payments-adyen/dutch-payments-processor-takes-pan-european-licence-to-bypass-banks-idUSKBN19E1Y2|title=Dutch payments processor takes pan-European license to bypass banks|date=26 June 2017|access-date=22 September 2017|newspaper=Reuters}} It also obtained acquiring licenses in Singapore, Hong Kong, Australia, and New Zealand.{{Cite news|url=http://www.straitstimes.com/business/payments-tech-provider-targets-asia-pac-expansion|title=Payments tech provider targets Asia-Pac expansion|last=hermes|date=9 September 2017|work=The Straits Times|access-date=15 September 2017|language=en}}{{Cite news|url=https://www.finextra.com/pressarticle/70596/adyen-expands-direct-credit-card-acquiring-capabilities-to-include-singapore|title=Adyen expands direct credit card acquiring capabilities to include Singapore|last=Finextra|date=2017-09-07|work=Finextra Research|access-date=2017-09-15|language=en}}

In 2018, the company announced that it would be listing its shares publicly in Amsterdam.{{Cite news|url=http://www.businessinsider.com/adyen-netflix-uber-ipo-amsterdam-2018-5|title=A Dutch payment giant backed by Mark Zuckerberg and used by Uber is going public|work=Business Insider|access-date=2018-05-25}} The IPO took place on 13 June 2018.{{Cite web |url =https://www.nu.nl/beurs/5310503/adyen-knalt-omhoog-beursgang.html |website =NU.nl |language =nl |title =Adyen knalt omhoog na beursgang |date =13 June 2018 |access-date =13 June 2018 }}

In 2019, Adyen opened new offices in Tokyo and Mumbai, and expanded its payment offering in Africa.{{cite web|url=https://www.globalbankingandfinance.com/adyen-expands-its-global-payment-offering-to-africa/|title=Adyen expands its global payment offering to Africa|work=Global Banking & Finance Review|date=7 June 2019 |access-date=2 December 2020}} In the same year, it launched Adyen Issuing, a virtual and physical card-issuing business to complement payments services to merchants.{{cite news|url=https://www.reuters.com/article/idUSL8N27U5D7|title=Adyen keeps focus on organic growth as it launches cards product|work=Reuters|date=14 November 2019 |access-date=2 December 2020}}

In 2020, the company benefited from an accelerated digitalization of global ecommerce in the online retail segment, which compensated for the declining travel volumes in enterprises due to the COVID-19 pandemic. It launched mobile Android POS devices worldwide in the second half of the year.{{cite web|url=https://www.adyen.com/investor-relations/h2-2020#section0|title=Shareholder letter H2 2020|work=Adyen|access-date=10 February 2021}} In addition, it opened a new office in Dubai, expanding its offering in the Middle East.{{cite web|url=https://siliconcanals.com/news/startups/fintech/adyen-to-expand-into-the-middle-east/|title=Dutch payment giant Adyen to expand into the Middle East, opens Dubai office|work=Silicon Canals|date=11 November 2020 |access-date=10 February 2021}}

The company has been profitable since 2011.{{cite web|url=https://www.recode.net/2017/4/12/15268326/adyen-2016-revenue-ebitda-profits-financial-results-ipo|title=The next big payments IPO could be a fast-growing startup not named Stripe|date=12 April 2017|access-date=22 September 2017}} Its earnings grew from $46 million in 2015 to $87 million in 2016. Its gross revenue grew 99 percent in 2016 to $727 million.{{Cite news|url=https://www.cnbc.com/2017/04/12/adyen-2016-revenue-profit.html|title=Adyen, the $2.3 billion firm that processes payments for Uber and Netflix, saw 2016 revenues rise 99%|last=Kharpal|first=Arjun|date=2017-04-12|work=CNBC|access-date=2017-09-15}}{{Cite news|url=https://www.forbes.com/sites/brucerogers/2017/05/02/payments-company-adyen-scales-to-new-heights/#504712792666|title=Payments Company Adyen Scales To New Heights|last=Rogers|first=Bruce|work=Forbes|access-date=2017-09-15|language=en}}

In December 2014, the company announced a funding round of $250 million led by growth equity firm General Atlantic, joined by existing investors Temasek Holdings, Index Ventures, and Felicis Ventures.{{cite news|last1=Chapman|first1=Lizette|title=Payment Startup Adyen Raises $250 Million at $1.5 Billion Valuation|url=https://blogs.wsj.com/venturecapital/2014/12/16/payment-startup-adyen-raises-250-million-at-1-5-billion-valuation/|access-date=16 December 2015|publisher=The Wall Street Journal}}{{cite web|title=Adyen Raises $250 Million in Funding to Accelerate Growth of Its Global Payments Platform|url=http://www.generalatlantic.com/media/archive/adyen-announces-investment-from-general-atlantic/|website=General Atlantic website|access-date=16 December 2015|archive-url=https://web.archive.org/web/20160721052308/http://www.generalatlantic.com/media/archive/adyen-announces-investment-from-general-atlantic|archive-date=21 July 2016|url-status=dead|df=dmy-all}}

In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015.{{cite web|url=https://www.cnbc.com/2017/02/08/adyen-company-behind-facebook-and-uber-payments-reveals-huge-transaction-growth.html|title=Company behind Facebook, Uber and Netflix payments reveals huge transaction growth|first=Saheli Roy|last=Choudhury|website=CNBC |date=8 February 2017|access-date=22 September 2017}}

In 2017, Adyen surpassed €100 billion in processed volume.

On January 31, 2018, eBay announced that it had signed an agreement with Adyen to become its primary payments processing partner. eBay began intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the operating agreement with PayPal. In 2021, eBay transitioned a majority of its marketplace customers to Adyen.{{Cite news|url=https://www.bloomberg.com/news/articles/2018-01-31/ebay-to-ditch-paypal-for-dutch-processor-adyen-lowering-costs|title=EBay Rises to Record High on Shift to Adyen; PayPal Tumbles|newspaper=Bloomberg |date=31 January 2018|via=www.bloomberg.com}}

In 2021, net revenue hit €1 billion.{{Cite web|url=https://investors.adyen.com/|title=Adyen|website=Adyen}}

In 2022, the company exceeded €1.3 billion in revenue.{{Cite web |last=Adyen |title=Adyen |url=https://investors.adyen.com/ |access-date=2023-07-26 |website=Adyen |language=en}}

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Category:Financial services companies established in 2006

Category:Payment service providers

Category:Companies based in Amsterdam

Category:Companies in the Euro Stoxx 50

Category:Companies in the AEX index

Category:Companies listed on Euronext Amsterdam