Interesting Data Gigs # 25: Data Engineer at Adyen
One of my favorite businesses of all time
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Hello Data geek.
Today I wanted to analyze one of my favorite technology businesses of all time: Adyen, and I want to tell you why in a minute.
To be fair to you: this is not the first time I wrote about the company. Some years ago: I wrote an article in my personal blog called Adyen Payments: The Growth Hacking Tip You Must Use to Improve Dramatically Your Global Expansion.
I still believe that.
Why? Because it’s very simple.
Let’s talk about the problem of global expansion first.
When you are in a phase where your company has big ambitions to conquer the world, there are so many hurdles and problems to solve when you talk about one of the most important aspects of worldwide expansion: Payments.
The global payments ecosystem is so complex and different around the world: different payment methods, different regulations, different types of customers, etc.
And managing all the contracts, laws and more things seems like an impossible task.
Well, all those problems go away when you have a partner like Adyen.
With a single contract, you can have access to more than 250 payment methods around the world.
This means with a single contract, you could get paid in installments or through a Boleto in Brazil or through Apple Pay in the U.S., or iDEAL in the Netherlands:
But to be honest with is not my favorite characteristic of Adyen. I love Adyen because they have been doing this for many years and in a profitable way.
I want to put a big emphasis on profitability.
Many payments-related companies out there are losing billions of dollars every year, and need more and more capital to fund their operations.
The best example of this is Stripe (ironically I created my own company through Stripe Atlas to get paid for this newsletter), which just announced a big cut in its valuation from $95 Billion to $55 Billion in just two years, according to The Information:
But Adyen has taken a different path here.
Yes, they raised a ton of capital but they have been profitable since 2011. Yes, this is not a type: they have been profitable since 2011.
According to Crunchbase, their funding history is the following:
August 2011: A Series A led by Index Ventures of $16 Million. Adyen is one of the main reasons why I deeply admire Jan Hammer as an investor
December 2014: A Series B of $250 Million led by General Atlantic
September 2015: A Series C led by ICONIQ
Then, they did the IPO on Jun 13, 2018, with a share per price of 400 Euros raising a total of $1.1 Billion for a valuation of $8.3 Billion at that time.
But the numbers of today are even more impressive.
At the date I’m writing this article (March, 1st, 2023), the company’s valuation is $41,24 Billion with a price on its shares of $1,326 Euros per share.
But this is not all.
When you visit its Investor Relations website, there is more key information about why Adyen keeps growing and growing in a sane and profitable way.
On February 8th, 2023 they published the financial results of H2 2022, and they are impressive to say at least:
Summary H2 2022
Processed volume was €421.7 billion, up 41% year-on-year. Of these volumes, point-of-sale volumes were €67.6 billion, up 62% year-on-year
Net revenue was €721.7 million, up 30% year-on-year
EBITDA of €372.0 million, up 4% year-on-year, with EBITDA margin at 52%
Free cash flow conversion ratio was 80%, with CapEx at 8% of net revenue
Full Year 2022 Figures
Processed volume was €767.5 billion, up 49% year-on-year. Of these volumes, point-of-sale volumes were €112.5 billion, up 74% year-on-year
Net revenue was €1.3 billion, up 33% year-on-year
EBITDA of €728.3 million, up 16% year-on-year
EBITDA margin was 55% for the full year
CapEx was 7% of net revenue for the full year
BTW, some of my favorite parts of the H2 2022 Shareholders Letter was this one where they talk about the importance of employees for Adyen’s continued expansion:
This proves 2 key points if you want to join the company:
Employees matters at Adyen
The bar is very high at Adyen, even to the point that someone from the senior leadership team will be part of the interview process.
I see this as an opportunity to shine, not to be nervous.
Treat this like a conversation, and more important: Just Be You. Don’t Pretend to Be another person.
So, let’s talk about the position then.
Data Engineering at Adyen
Data Engineering at Adyen is very atypical and let me tell you why.
First, these guys are doing many things from scratch, and when I talk from scratch, I mean it.
Adyen is inside a highly regulated industry, especially in Europe.
So, they had to create their own data centers to isolate the data from their customers.
That’s the main reason why you will see a lot of infrastructure open roles as well where you see something like Ceph, OpenStack, Ansible, OpenVswitch, Numa, KSM, and much other stuff that you normally don’t see in other organizations.
Apache Spark is the backbone of Data Analytics, Data Science, Machine Learning, and almost anything related to Data at Adyen.
But, when you start to look for how Adyen is actually using Spark, you will see that you won’t work with the typical Spark cluster here.
You have to actually understand Spark inside and outside, and live proof of that is this very interesting post called “Building our data science platform with Spark and Jupyter“.
So, don’t wait for more and apply in order to be part of the Adyen family.
Other resources to check out
Interesting Data Gigs Talent Network
Interesting resources of the week
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