Name: Nick Molnar
Education:Bachelor of Commerce
Type of business:Businessman
Something Interesting: Nick Molnar owns a penthouse worth $10 million dollars in Sydney.
Main Achievements:Afterpay successfully listed on the Australian Securities Exchange in May 2016
Nick Molnar is a young social entrepreneur. He completed his bachelor’s degree in Commerce, majoring in Finance from the University of Sydney.
Nick Molnar shares his success story that he was never a High achiever student in his school. He further tells about his trip to Japan with his family, where he sold sushi rolls. He goes on saying that everyone was fond of it, but no canteen was ready to put it for sale.Nick Molnar further said that he always used to observe things, and this was the time when he observed the market gap.He found that people were fond of Japnese sushi. Blessed with the entrepreneurial vision, he soon saw a hatred towards credit cards, and everyone was looking for debit cards.
Just like making sushi rolls readily available for the public and filling the gap in the market, Molnar did the same in this case. He introduced a little different concept in the market that suggests that you can take away whatever you want from the market and pay the 4th part of the price at the spot and pay the other three parts in installments every two weeks. This idea might sound like a eureka moment. Being already in business due to his family, he knew a lot about trade in the Ecommerce world. In 2007 when he finished school, his mom told him to sell jewelry on eBay. As soon as he started with it till the time he completed it doing for two years, he had been selling a lot of jewelry.
Molnar later was being spied by Anthony Eisen in an investment company Guinness Peat Group who was the Chief Investment Officer. At that time, Anthony was writing a substantial investment, and Molnar at this,explained the idea of After pay and how it would work for him in this very scenario.
By 2016, After pay went to the concept of creation and was listed in the Australian Stock Exchange, and that too because of Molar’s generational insight and Anthony’s financial power. Even though there are his work-related offices in Melbourne and Sydney, he still is happily at home among his siblings in Silicon Valley.
The mastermind behind whatever perks he enjoys today is his aunt, who suggested the name while a brainstorming session, which gives the concept of After pays a sort of competitive advantage due to the name itself. Later in the year in June, the company made a big-money move by teaming up with Urban Outfitters for the launch. They also barged in the influential market, making a significant move again partnering with Kim Karadhaisn, who would help in selling KKW beauty products.Though the Karadhaisnis capable enough to make high sales but it’s a great thing that they contacted his company for it. Customers of KKW state that we love it when we pay for your products by After pay, and that is quite overwhelming for me and my company.
The concept of After pay and its prevalence among the people was increasing. The loyalty of the users begins as soon as they try it, which is fantastic. This concept has enabled customers now to afford things they couldn’t earlier. In the start of this year, he became the chief revenue officer and came down from his position (CEO).