Keep pulling the thread on Jack Zhang.
Stripe's acquisition offer for Airwallex included $800 million for the cap table and an additional $375-450 million retention package for the co-founders.
Airwallex was close to securing a term sheet from SoftBank, but the deal disappeared after the WeWork crisis.
Hedosophia led a funding round for Airwallex at a valuation between $1.7 and $1.8 billion, which prevented the company from running out of money during the COVID-19 pandemic.
Airwallex lost half of its revenue in a single day at the beginning of the COVID-19 pandemic.
Airwallex's payments product, launched in 2021, now accounts for 40% of the company's total revenue.
Airwallex's transaction volume grew by over 100x in 2018.
By the end of 2018, Stripe offered to acquire Airwallex for $1.2 billion.
The initial $1 million investment made by co-founder Lucy in Airwallex is now worth approximately half a billion dollars.
Airwallex is currently valued at over $11 billion.
Airwallex has a current revenue run rate of nearly $1.3 billion and is growing at 85%.
The long-term vision for Airwallex is to build the next generation of a global bank, differing from JPMorgan or Citibank by integrating a financial infrastructure layer with "agentic finance."
North America and Europe now represent nearly 40% of Airwallex's revenue, having grown from 0% over the past three years.