Affirm, every mention
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every year anyone Ben Gilbert 8David Rosenthal 1
Verbatim, from the transcripts: the passages where Affirm comes up
Peloton - the entire history and strategy behind America's trendiest workout · Acquired
- ▶ 1:47:31 Ben Gilbert So, when Affirm went public, there was, uh, some information in their S-One where, at the time, Peloton was the largest customer, the largest source of revenue to Affirm.
- ▶ 1:47:45 Ben Gilbert Now, Affirm has grown a lot and diversified, uh, but I took up
- ▶ 1:47:50 Ben Gilbert The, I, I took a firm up on their offer and Peloton up on their offer to finance my bike over the course of a few years rather than pay for it in cash outright because it was a zero percent deal.
- ▶ 1:48:35 Ben Gilbert So when you look under the covers of why was Peloton willing to offer zero percent, or why was Affirm willing to offer zero percent, what does that deal look like?
- ▶ 1:48:44 Ben Gilbert Well, Peloton and Affirm did a back-end deal where Peloton said if you agree, Affirm,
- ▶ 1:49:01 Ben Gilbert At the time of IPO, of a firm's IPO, 28% of all of the revenue in the previous year leading up to the IPO was from the Peloton deal.
- ▶ 1:49:17 Ben Gilbert That is one hundred and fifty million dollars a year that Peloton was paying to a firm to offer this zero percent financing thing.
- ▶ 1:50:01 David Rosenthal And we talk about with her about the whole buy now, pay later space.
- ▶ 1:50:26 Ben Gilbert Well, the bear case to make out of that is like when you look at their demand recently, like the fact that they only grew nine percent in Q four and five percent in Q one, even though they have this affirm deal out there, even though…