Stripe's valuation hits $𝟳𝟬 𝗕𝗶𝗹𝗹𝗶𝗼𝗻
Hey FinTech Fanatic!
Stripe’s valuation has edged up to $70 billion, spurred by Sequoia Capital's recent move to purchase shares from current investors seeking to exit the FinTech company, which specializes in payment processing for merchants.
Sequoia Capital has proposed a share price of $27.51, as reported by sources familiar with the transaction who requested anonymity due to the private nature of the details. This offer is directed towards limited partners in funds raised from 2009 to 2012 who may be looking to liquidate their holdings, according to Axios. The venture capital firm aims to acquire up to $861 million worth of shares.
Representatives from both Stripe and Sequoia declined to comment on the matter.
Stripe, a leading private tech company, was previously valued at $65 billion following a February deal that allowed current and former employees to sell some of their shares. This valuation marked an increase from $50 billion in March of the previous year, though it remains below the peak of $95 billion achieved during a 2021 funding round.
Founded by brothers John and Patrick Collison, Stripe has seen remarkable growth since its inception over a decade ago.
Now over to you: Do you think Stripe is worth $70 billion?
Cheers,
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