In the first month of pilot, Paystack, the Lagos-operating fintech company which is being acquired by Stripe for $200 million, a total of 22 transactions were processed. The subsequent month, the number grew to 318. If you run the math, that was a four-digit growth: 1,345%. During that period, revenue was $1,300 for the company. Yes, while the revenue may be low, if you look carefully, the growth rate was something else. That explained why some wise people who saw the company numbers wired that $120k which post acquisition might have delivered at least $12 million gain. Measure what matters.
With an exit of $200 million – a three digit-multiple- and considering the typical delusion, I estimate that YC will receive at least $12 million for its investment at that very early in Paystack. Yes, the Americans have turned $120k into $12 million in your neighborhood in Lagos. Sure, how you wish!!! Sorry, that is why one smart man wrote “Acres of Diamond”. That glory is everywhere if you seek it earnestly! But give it to the Americans; Paystack revenue was $1,300 when YC accepted it.
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