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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.

By Parikshit Mishra
AccessTimeIconMar 1, 2022 at 12:53 p.m. UTC
Updated May 11, 2023 at 4:07 p.m. UTC
Donate button on keyboard (Shutterstock)
Donate button on keyboard (Shutterstock)
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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
Parikshit Mishra

Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.

Follow @parikshitm899 on Twitter

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