How First Data reinvented itself to become 2015's biggest IPO

Originally published on, October 21, 2015

The payments-processing giant is staking its comeback on a big tech bet—selling apps and Big Data services to millions of small businesses.

How First Data reinvented itself to become 2015's biggest IPO

It was the sale Scott Nuttall had to make. On a Saturday morning in April 2013, Nuttall was sitting at a corner table in the nearly empty restaurant at the Hilton in Short Hills, N.J., striving to persuade his burly guest to trade one of the best jobs in banking for a chance to rescue one of the hardest of hard cases...

A look inside...

The Salon Scheduler app (on Clover) reminds spa and manicurist clients of appointments and prompts them to rebook if they’ve been absent.

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Give an app called Stock (on Clover) the data on how much sauce and cheese goes into a large pizza, and it will reorder ingredients automatically, based on your sales.

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The most popular app (on Clover) is an employee-management tool called Homebase. It’s been a boon to Angelo Vivolo, proprietor of Vivolo, an Italian eatery on Manhattan’s Upper East Side. The Clover, says Vivolo, gives him tools that big businesses already have. “It’s like going from the Stone Age to the modern era,” he says.

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Insightics also alerted (Becky) Sunseri that Tin Pot’s sales were lowest at midday, so she started offering lunchtime discounts that sweetened sales. From Clover, she says, Tin Pot got “data we would never have the time or the finances to collect or analyze ourselves.

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