Buffett-backed 30-year-old goes to war with Latin American banks [Business News Network (BNN) Energy & Resources (Canada)]
StoneCo Ltd. - Class A Common Share (STNE)
Company Research
Source: Business News Network
Buffett-backed 30-year-old goes to war with Latin American banks At 30 years old, Thiago Piau is no stranger to picking fights with giants. The firm he runs, StoneCo Ltd., first made a splash when it started to snag what would become 8 per cent of Brazil’s 2 trillion-real (US$440 billion) payments industry from the nation’s biggest banks. That success lured billionaire investors including Warren Buffett, Jack Ma and 3G Capital founders Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira. For his next battle, Piau doesn’t just want to take payments revenue away from the banks. He wants it all. “Starting out with payments was just a Trojan horse, a way of striking a relationship with the Brazilian business owners,” Piau said in his first interview since the company went public in 2018. “Our main strategy now is to offer all the other services banks offer those clients and ultimately yank them out of the banks.” Similar to Jack Dorsey’s Square Inc., Sao Paulo-based Stone starte
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News
- StoneCo Ltd. (STNE) Stock Moves -0.26%: What You Should Know [Yahoo! Finance]Yahoo! Finance
- 4 High Earnings Yield Stocks to Buy Amid Market Uncertainty [Yahoo! Finance]Yahoo! Finance
- StoneCo Ltd. to Announce First Quarter 2024 Financial Results on May 13, 2024 and Adopt New Internal Accounting PolicyGlobeNewswire
- StoneCo Ltd. (STNE) Ascends But Remains Behind Market: Some Facts to Note [Yahoo! Finance]Yahoo! Finance
- StoneCo Stock: It's Just Getting Started [Seeking Alpha]Seeking Alpha
STNE
Earnings
- 3/18/24 - Beat
STNE
Sec Filings
- 3/21/24 - Form 6-K
- 3/18/24 - Form 6-K
- 3/18/24 - Form 6-K
- STNE's page on the SEC website