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VCs and startups consider HaaS model for consumer devices


. The first of its operational missions, designated Crew-1, is currently set to take place sometime in late September, and will carry three NASA astronauts and one JAXA astronaut to the station for a regular tour as crew members of the orbital science platform.n

This now also means that NASA will have control over its own transportation method for its astronauts (and astronauts from friendly nations) to and from the Space Station since the retirement of the Space Shuttle in 2011. The Commercial Crew program was designed to provide just that, but rather than having NASA responsible for the launch and transportation spacecraft as with the Shuttle, it’s partnering with private companies to offer it commercial service for those flights u2013 SpaceX is now the first to complete the testing and development program, and Boeing is in process of becoming a second commercial ride provider for NASA to rely on.n

""n

NASA wants to ensure continued access to the ISS, and is also hoping to save money long-term and enable the commercial space industry by sharing rides aboard the Crew Dragon and Boeing’s Starliner with commercial astronauts. SpaceX has already partnered with a company to begin selling return trips aboard Crew Dragon (without an ISS stop) for private spacefarers, and Dragon has a total of seven potential seats for flying people, with NASA missions only ever slated to occupy four of those spots.n”,”protected”:false},”excerpt”:”rendered”:”

SpaceX and NASA have made history once again, successfully completing the crucial final phase of their Demo-2 mission for the Crew Dragon spacecraft, SpaceX’s first spacecraft made for human flight. This marks the end of this last demonstration mission, which flew NASA astronauts Bob Behnken and Doug Hurley to the International Space Station on May […]n”,”protected”:false,”author”:5302483,”featured_media”:2026252,”comment_status”:”open”,”ping_status”:”closed”,”sticky”:false,”template”:””,”format”:”standard”,”meta”:”outcome”:””,”status”:””,”crunchbase_tag”:0,”amp_status”:””,”relegenceEntities”:[],”relegenceSubjects”:[],”carmot_uuid”:”dd3bd1ac-2500-3a65-be2d-2232e1bad042″,”categories”:[576702152,446313605,174,17396],”tags”:[8055,387037,174015,1117,21418,576759405,185668,163822,449560590,371748],”crunchbase_tag”:[],”tc_stories_tax”:[],”tc_event”:[],”jetpack_featured_media_url”:”https://techcrunch.com/wp-content/uploads/2020/08/spacex-crew-dragon-demo-2-splashdown.gif”,”shortlink”:”https://tcrn.ch/319ERZT”,”rapidData”:”pt”:””,”pct”:””,”featured”:false,”subtitle”:””,”fundingRound”:false,”seoTitle”:””,”seoDescription”:””,”premiumContent”:false,”premiumCutoffPercent”:1,”tc_cb_mapping”:[“slug”:”spacex”,”cb_name”:”SpaceX”,”cb_slug”:”space-exploration-technologies-organization”,”cb_link”:”https://crunchbase.com/organization/space-exploration-technologies”,”slug”:”space-station”,”cb_name”:”Space Station”,”cb_slug”:”space-station-6ec2-organization”,”cb_link”:”https://crunchbase.com/organization/space-station-6ec2″,”slug”:”spacex”,”cb_name”:”SpaceX”,”cb_slug”:”space-exploration-technologies-organization”,”cb_link”:”https://crunchbase.com/organization/space-exploration-technologies”,”slug”:”falcon”,”cb_name”:”Falcon”,”cb_slug”:”falcon-19ff-organization”,”cb_link”:”https://crunchbase.com/organization/falcon-19ff”],”associatedEvent”:null,”event”:null,”authors”:[5302483],”hideFeaturedImage”:false,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts/2026247″],”collection”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts”],”about”:[“href”:”https://techcrunch.com/wp-json/wp/v2/types/post”],”replies”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/comments?post=2026247″],”version-history”:[“count”:11,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2026247/revisions”],”predecessor-version”:[“id”:2026264,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2026247/revisions/2026264″],”authors”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/5302483″],”https://techcrunch.com/edit”:[“href”:”https://techcrunch.com/wp-admin/post.php?post=2026247&action=edit”],”author”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/5302483″],”wp:featuredmedia”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/media/2026252″],”wp:attachment”:[“href”:”https://techcrunch.com/wp-json/wp/v2/media?parent=2026247″],”wp:term”:[“taxonomy”:”category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/categories?post=2026247″,”taxonomy”:”post_tag”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tags?post=2026247″,”taxonomy”:”_tc_cb_tag_taxonomy”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=2026247″,”taxonomy”:”tc_stories_tax”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=2026247″,”taxonomy”:”tc_event”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_event?post=2026247″],”curies”:[“name”:”wp”,”href”:”https://api.w.org/rel”,”templated”:true],”_embedded”:{“authors”:[“id”:5302483,”name”:”Darrell Etherington”,”url”:””,”description”:”Writer covering space, science and health tech. Formerly covering automotive and mobility tech, and previously an employee of Apple and also of Shopify.”,”link”:”https://techcrunch.com/author/darrell-etherington/”,”slug”:”darrell-etherington”,”avatar_urls”:”24″:”https://secure.gravatar.com/avatar/188039e12983eb749171a75cfd01378d?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/188039e12983eb749171a75cfd01378d?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/188039e12983eb749171a75cfd01378d?s=96&d=identicon&r=g”,”links”:”homepage”:”http://techcrunch.com”,”facebook”:”http://www.facebook.com/darrell.etherington”,”twitter”:”https://twitter.com/etherington”,”linkedin”:”http://www.linkedin.com/in/etherin”,”crunchbase”:”https://www.crunchbase.com/person/darrell-etherington”,”position”:”Writer”,”cbDescription”:”

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to understand Affirm’s reported IPO pricing hopes”,”content”:{“rendered”:”

News broke last night that Affirm, a well-known fintech unicorn, could approach the public markets at a valuation of $5 to $10 billion. The Wall Street Journal, which broke the news, said that Affirm could begin trading this year and that its IPO options include debuting via a special purpose acquisition company, also known as a SPAC.n

That Affirm is considering listing is not a surprise. The company is around eight years oldu00a0and has raised north of $1 billion, meaning it has locked up investor cash during its life as a private company. And liquidity has become an increasingly attractive possibility in 2020, when new offerings of all quality levels are enjoying strong reception from investors and traders who are hungry for equity in growing companies.n


n

The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.n


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But $10 billion? That price tag is a multiple of what Affirm was worth last year when it added $300 million to its coffer at a post-money price of $2.9 billion. There were rumors that the firm was hunting a far larger round later in 2019, though it doesn’t appear — per PitchBook records — that Affirm raised more capital since its Series F.n

""This morning let’s chat about the company’s possible IPO valuation. The Journal noted the strong public performance of Afterpay as a possible cognate for Affirm — the Australian buy-now, pay-later firm saw its value dip to $8.01 per share inside the last year before soaring to around $68 today. But given the firm’s reporting cycle, it’s a hard company to use as a comp.n

Happily, we have another option to lean on that is domestically listed, meaning it has more regular and recent financial disclosures. So let’s learn how much revenue it takes to earn an eleven-figure valuation on the public markets by offering consumers credit.n

Affirm’s businessn

Affirm loans consumers funds at the point of sale that are repaid on a schedule at a certain cost of capital. Affirm customers can select different repayment periods, raising or lowering their regular payments, and total interest cost.n

Synchrony offers similar installment loans to consumers, along with other forms of capital access, including privately-branded credit cards. (Verizon, TechCrunch’s parent company, recent offered a card with the company, I should note.)u00a0 Synchrony is worth $13.5 billion as of this morning, making it a company of similar-ish value compared to the top end of the possible Affirm valuation range.



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