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Payment tech company Marqeta files for IPO as value tops $16 billion on private markets – CNBC

Marqeta, whose payment technology is used by DoorDash and Instacart, plans to go public on over $100 million in quarterly revenue.

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Marqeta has become one of the hottest businesses in digital commerce, even though few consumers have ever heard of it.
Its name is about to become much more familiar. On Friday, the company filed to go public and, in its prospectus to investors, disclosed annualized revenue growth in the first quarter of 123% to $108 million, while its net loss narrowed to $12.8 million from $14.5 million a year earlier.
in 2020, annual revenue more than doubled to $290.3 million, and the company recorded a loss…

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