Digital funds platform has but to put out plans to go public, however within the meantime the corporate has thrown previous and current workers a line for some liquidity. The corporate on Thursday confirmed a tender offer the place buyers will purchase up shares from these workers at a valuation of $91.5 billion. Stripe stated it’ll additionally repurchase shares as a part of the transaction.
A spokesperson declined to say who’s within the secondary spherical besides to confrim that it’s “largely” current buyers. Previous backers of the corporate quantity at over 150 per PitchBook data. They embrace Common Catalyst, GV, Silver Lake, Atomico, Elon Musk, Salesforce and plenty of extra.
The tender supply is a good soar on the corporate’s valuation from its final secondary sale a yr in the past, which was valued at $70 billion. Nevertheless, it nonetheless fell wanting its high-watermark $95 billion valuation again in 2021. That spherical got here at a time when e-commerce itself was booming as a result of Covid-19 pandemic, and it made Stripe, on the time and solely on paper, probably the most priceless privately-held tech firm on this planet.
The information coincides with Stripe’s annual letter penned by CEO and co-founder Patrick Collison, which famous that cost quantity in 2024 grew to $1.4 trillion, up 38% on the yr earlier than.
It’s a giant quantity for Stripe for certain, however to place it into some context, Visa stated that its cost quantity for 2024 was $13.2 trillion. The margin that Stripe makes on transactions (that are what make up cost quantity) stays skinny, and so this enterprise stays one the place it nonetheless has room to (and must) scale.
Stripe additionally added that it’s now utilized by half of the Fortune 100 firms, underscoring the way it has catapulted from a startup working with different startups, into a serious enterprise participant.
The tender supply was initially reported to be within the works earlier this month.