New portfolio position: Adyen $ADYEN $ADYEY $ADYYF
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Todor Kostov's avatar
@stonkmetal Logical.
Heavy Moat Investments's avatar
@kostofff That's how investment cases should be :D
Todor Kostov's avatar
@stonkmetal Exactly.
Joshua Simka's avatar
Curious what you consider to be Adyen's moat, since there are a handful of payment companies they compete with?
Heavy Moat Investments's avatar
@tomato They have the unique strategy of doing everything inhouse, so they have all the data and can do data analytics which competitiors simplely don't have the data to do. This leads to best in class Authorization rates (less false positives meaning less declined transactions from legit accounts leading to incremental revenue for customers). Futhermore the relentless customer focus and culture give them an edge in my opinion. It's not the widest moat, but its widening with everything they add to their platform.
Joey Hirendernath's avatar
$ADYEN is one I have had on my watchlist and have been researching. Great to see you make the jump and start your position :)
Heavy Moat Investments's avatar
@joeyhirendernath Nice, I've been researching the company for the last month. Finally decided to do the jump after all the discussions I had with @invesquotes
Brett Schafer's avatar
Do you think the culture can be a moat here?
Rihard Jarc's avatar
@ccm_brett Can culture ever be a moat in a big cap company? I understand when the company is small but when it's big, could be an interesting debate.
Heavy Moat Investments's avatar
@ccm_brett Yes, I believe so. Adyen is going to great lengths to not dilute its culture: The company never acquired anything, all organic growth. They are very disciplined with new hires and every candidate that gets to the last round of interviews has the last interview with a board member of the company. I believe these are great steps to preserve the culture.