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to documents previously reviewed by TechCrunch, the date of August 1, 2020 had been the planned launch date for some time.n

The videos are now one of several ways artists can connect with fans on Facebook, as the company had already rolled out tools that allowed artists to promote new releases with custom AR effects and Music Stickers, host live-streamed Q&As on Facebook Live and raise money for important causes through the donate button in Live and Stories.n

“Artist/Fan connection on Facebook is deeper and more authentic because of tools like Stories, Live and custom AR effects. Official music videos are re-born in that setting — they become part of the way people express identity and mood and bring a new dimension to the artist storytelling that happens on our apps every day,” said Tamara Hrivnak, VP of Music Business Development and Partnerships at Facebook.n”,”protected”:false},”excerpt”:”rendered”:”

Facebook today confirmed it will begin rolling out official music videos across its platform in the U.S., as TechCrunch first reported, as well as introduce a new Music destination within Facebook Watch. The changes, which will go into effect starting this weekend, will allow Facebook users to discover, watch and share music videos from a […]n”,”protected”:false,”author”:2414667,”featured_media”:2025480,”comment_status”:”open”,”ping_status”:”closed”,”sticky”:false,”template”:””,”format”:”standard”,”meta”:”outcome”:””,”status”:””,”crunchbase_tag”:0,”amp_status”:””,”relegenceEntities”:[],”relegenceSubjects”:[],”carmot_uuid”:”305cf5dd-8697-3572-92de-324733324a5f”,”categories”:[329026,3457],”tags”:[1907,81819,576596939,18,3998,449557085,1149],”crunchbase_tag”:[],”tc_stories_tax”:[],”tc_event”:[],”jetpack_featured_media_url”:”https://techcrunch.com/wp-content/uploads/2020/07/Side-By-Side-View-IOS.png”,”shortlink”:”https://tcrn.ch/2D6cm7o”,”rapidData”:”pt”:””,”pct”:””,”featured”:false,”subtitle”:””,”fundingRound”:false,”seoTitle”:””,”seoDescription”:””,”premiumContent”:false,”premiumCutoffPercent”:1,”tc_cb_mapping”:[],”associatedEvent”:null,”event”:null,”authors”:[2414667],”hideFeaturedImage”:false,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts/2025466″],”collection”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts”],”about”:[“href”:”https://techcrunch.com/wp-json/wp/v2/types/post”],”replies”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/comments?post=2025466″],”version-history”:[“count”:5,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2025466/revisions”],”predecessor-version”:[“id”:2025533,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2025466/revisions/2025533″],”authors”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/2414667″],”https://techcrunch.com/edit”:[“href”:”https://techcrunch.com/wp-admin/post.php?post=2025466&action=edit”],”author”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/2414667″],”wp:featuredmedia”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/media/2025480″],”wp:attachment”:[“href”:”https://techcrunch.com/wp-json/wp/v2/media?parent=2025466″],”wp:term”:[“taxonomy”:”category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/categories?post=2025466″,”taxonomy”:”post_tag”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tags?post=2025466″,”taxonomy”:”_tc_cb_tag_taxonomy”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=2025466″,”taxonomy”:”tc_stories_tax”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=2025466″,”taxonomy”:”tc_event”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_event?post=2025466″],”curies”:[“name”:”wp”,”href”:”https://api.w.org/rel”,”templated”:true],”_embedded”:{“authors”:[“id”:2414667,”name”:”Sarah Perez”,”url”:””,”description”:””,”link”:”https://techcrunch.com/author/sarah-perez/”,”slug”:”sarah-perez”,”avatar_urls”:”24″:”https://secure.gravatar.com/avatar/5225bb627e112543aa03bf3b2958be3f?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/5225bb627e112543aa03bf3b2958be3f?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/5225bb627e112543aa03bf3b2958be3f?s=96&d=identicon&r=g”,”links”:”facebook”:”http://www.facebook.com/sarahperez”,”twitter”:”https://twitter.com/sarahintampa”,”linkedin”:”http://www.linkedin.com/in/sarahintampa”,”crunchbase”:”https://www.crunchbase.com/person/sarah-perez”,”position”:”Reporter”,”cbDescription”:”

Sarah has worked as a reporter for TechCrunch since August 2011. She joined the company after having previously spent over three years at ReadWriteWeb. Prior to her work as a reporter, Sarah worked in I.T. across a number of industries, including banking, retail and software.”,”cbAvatar”:”https://crunchbase-production-res.cloudinary.com/image/upload/lwzxxnshgj71bonwbik3″,”twitter”:”sarahintampa”,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/tc/v1/users/2414667″],”collection”:[“href”:”https://techcrunch.com/wp-json/tc/v1/users”]],”author”:[“id”:2414667,”name”:”Sarah Perez”,”url”:””,”description”:””,”link”:”https://techcrunch.com/author/sarah-perez/”,”slug”:”sarah-perez”,”avatar_urls”:”24″:”https://secure.gravatar.com/avatar/5225bb627e112543aa03bf3b2958be3f?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/5225bb627e112543aa03bf3b2958be3f?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/5225bb627e112543aa03bf3b2958be3f?s=96&d=identicon&r=g”,”links”:”facebook”:”http://www.facebook.com/sarahperez”,”twitter”:”https://twitter.com/sarahintampa”,”linkedin”:”http://www.linkedin.com/in/sarahintampa”,”crunchbase”:”https://www.crunchbase.com/person/sarah-perez”,”position”:”Reporter”,”cbDescription”:”

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Sarah has worked as a reporter for TechCrunch since August 2011. She joined the company after having previously spent over three years at ReadWriteWeb. 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to understand Affirm’s reported IPO pricing hopes”,”content”:{“rendered”:”

News broke last night that Affirm, a well-known fintech unicorn, could approach the public markets at a valuation of $5 to $10 billion. The Wall Street Journal, which broke the news, said that Affirm could begin trading this year and that its IPO options include debuting via a special purpose acquisition company, also known as a SPAC.n

That Affirm is considering listing is not a surprise. The company is around eight years oldu00a0and has raised north of $1 billion, meaning it has locked up investor cash during its life as a private company. And liquidity has become an increasingly attractive possibility in 2020, when new offerings of all quality levels are enjoying strong reception from investors and traders who are hungry for equity in growing companies.n


n

The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.n


n

But $10 billion? That price tag is a multiple of what Affirm was worth last year when it added $300 million to its coffer at a post-money price of $2.9 billion. There were rumors that the firm was hunting a far larger round later in 2019, though it doesn’t appear — per PitchBook records — that Affirm raised more capital since its Series F.n

""This morning let’s chat about the company’s possible IPO valuation. The Journal noted the strong public performance of Afterpay as a possible cognate for Affirm — the Australian buy-now, pay-later firm saw its value dip to $8.01 per share inside the last year before soaring to around $68 today. But given the firm’s reporting cycle, it’s a hard company to use as a comp.n

Happily, we have another option to lean on that is domestically listed, meaning it has more regular and recent financial disclosures. So let’s learn how much revenue it takes to earn an eleven-figure valuation on the public markets by offering consumers credit.n

Affirm’s businessn

Affirm loans consumers funds at the point of sale that are repaid on a schedule at a certain cost of capital. Affirm customers can select different repayment periods, raising or lowering their regular payments, and total interest cost.n

Synchrony offers similar installment loans to consumers, along with other forms of capital access, including privately-branded credit cards. (Verizon, TechCrunch’s parent company, recent offered a card with the company, I should note.)u00a0 Synchrony is worth $13.5 billion as of this morning, making it a company of similar-ish value compared to the top end of the possible Affirm valuation range.



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I'm a 50 year old PLC programmer from Burnley, UK. I severed my time as an electrician in the baking industry and soon got involved with the up and coming technology of PLC's. Initially this was all based in the Uk but as the years went by I have gradually worked my way around the globe. At first it was mainly Mitsubishi with a bit of Modicon thrown in but these days the industry leaders seem to be the Allen Bradley range of PLC and HMI’s.

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