5 Comments

how much difference in gross take rate is driven by geographic differences? in generally Europe has a lower gross take rate/MDR vs US?

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Thanks for this analysis, really helpful!

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Great analysis, Tanay!

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Thanks Tanay!

I’m not so sure about Stripe “needing” 7,000 employees. SMB’s are less demanding on product and hand holding but naturally they’ll have to do more to avoid customers from upgrading or asking for much lower take rates.

I believe it has more to do with a VC growth at all cost mindset vs a bootstrapping mindset. Of course, there are many variables at play (SMB vs Enterprise, talent, Adyen’s mgmt experience running payments businesses, etc), but I believe this is an important one.

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I agree they don't need 7000 employees. I meant that at a given GPV, assuming same efficiency as Adyen, they would need more than Adyen, given broader product surface / extra R&D investment in new things.

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