Great move by Plaid. Alain, Chris, John and the team at Cognito saw the new internet economy needing easy to implement ID verification and KYC compliance way before others and quietly built the best solution on the market. While others touted their fundraising, Cognito just kept building and growing revenue like crazy. Happy to see their hard work paying off and excited for Plaid to extend its capabilities in this area.

Any reason the acquisition was only for $250M?

There are many others in the space that have been able to have higher valuations, more press, and bigger contracts in a shorter amount of time

I do wonder if this was even a top 10 choice for Plaid.