TLDR:
– Stripe’s valuation has reached $70 billion in a deal with Sequoia Capital.
– Sequoia Capital is offering to buy Stripe shares at $27.51 from limited partners in funds raised between 2009 to 2012.
In a move that signifies the growth of fintech company Stripe, its valuation has surged to $70 billion as part of a deal with Sequoia Capital. Sequoia Capital is offering to buy shares from limited partners at a price of $27.51, with the total value of shares coming up to $861 million. This deal follows a previous one that allowed current and former employees of Stripe to cash out some of their shares, boosting the company’s valuation to $65 billion. Founded by John and Patrick Collison, Stripe has been a strong competitor to companies like PayPal Holdings Inc. and Adyen NV in the online payment processing space. This recent increase in valuation marks another milestone in the success story of Stripe, showcasing its rapid growth and continued prominence in the fintech industry.
