Shift4 Buys Crypto Donation Firm The Giving Block for Up to $300M

The payment services company is paying $54 million upfront with potential payments of up to $246 million.

Mar 1, 2022 at 12:53 p.m. UTC
Updated Mar 1, 2022 at 7:14 p.m. UTC

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

Payment technology provider Shift4 has bought crypto donation marketplace The Giving Block, Shift4 said on Tuesday.

  • The deal is for an upfront payment of $54 million and potential payment of up to $246 million, which consists of 75% stock and 25% cash, Shift4 said in an investor presentation.
  • The Giving Block had $5 million in revenue last year, and that is expected to at least double in 2022. The deal will add at least $5 million in adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) to Shift4 in 2023.
  • The Giving Block offers users a marketplace to make donations to more than 1,300 nonprofits via cryptocurrencies.
  • Shift4 also acquired e-commerce services provider Finaro, the company said.
  • Shares of Shift4 (FOUR) were down over 4% during premarket trading on the New York Stock Exchange.
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Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

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