Crypto Donation Firm The Giving Block Bought by Payment Services Provider Shift4

Crypto Donation Firm The Giving Block Bought by Payment Services Provider Shift4
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Crypto Donation Firm The Giving Block Bought by Payment Services Provider Shift4

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

  • The deal is for an up-front payment of $54 million and potential payment of up to $246 million, which consists of 75% stock and 25% cash, the company said in an investor presentation.
  • The Giving Block had 2021 revenue of $5 million, which is expected to atleast double in 2022. The deal will add atleast $5 million in adjusted EBITDA contribution to Shift4 in 2023.
  • The Giving Block offers users a marketplace to make donations to over 1,300 non-profits via cryptocurrencies.
  • Shift4 also acquired e-commerce services provider Finaro, the company said.
  • Shares of Shift4 (FOUR) were down over 4% during pre-market trading on the New York Stock Exchange.
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