MasterCard IPO – Priceless!
After todays unsurprisingly poor performance by Vonage, the next IPO is MasterCard.
Unlike Vonage, MasterCard is pretty profitable, and with a market cap of about $5 Billion [about twice that of Vonage] actually seems like a pretty good deal. Also unlike Vonage, they’re trying hard to make money [upto the point of gouging both card holders and retail shops]. Incidentally Vonage did claim that they weren’t to serious about making money, they only wanted to focus on building their client base.
One dark spot is the $1 Billion payout with WalMart over the next 10 years and the potential for lawsuits regarding high transaction costs, fees and interest rates.
But if you’re carrying high balances on your credit cards, this is probably a great way to hedge your bets!
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