Stripe Explores Going Public Within the Next Year (cnbc.com) 2
Stripe, the fintech company once valued at $95 billion by private market investors, will make a decision on its plans to go public within the next year, CNBC has confirmed. From the report: Co-founders and brothers John and Patrick Collison told employees on Thursday that they will set a goal of taking the company public or letting staffers sell shares through a secondary offering, The Information first reported. In July, Stripe cut its internal valuation by 28%, from $95 billion to $74 billion. Earlier this month, The Information reported that Stripe again lowered its valuation to $63 billion.
Stripe, which provides payments software for e-commerce businesses, topped CNBC's Disruptor 50 list in 2020. Founded in 2010, Stripe's business took off as the U.S. economy and labor market began to recover from the financial crisis. Revenue was turbocharged during Covid from the boom in e-commerce. But in November, the company laid off roughly 14% of its staff as the Nasdaq headed for its worst year since 2008. Stripe is considering a direct listing or private market transaction and has hired Goldman Sachs and JPMorgan to advise on the deal, CNBC has learned.
Stripe, which provides payments software for e-commerce businesses, topped CNBC's Disruptor 50 list in 2020. Founded in 2010, Stripe's business took off as the U.S. economy and labor market began to recover from the financial crisis. Revenue was turbocharged during Covid from the boom in e-commerce. But in November, the company laid off roughly 14% of its staff as the Nasdaq headed for its worst year since 2008. Stripe is considering a direct listing or private market transaction and has hired Goldman Sachs and JPMorgan to advise on the deal, CNBC has learned.
Dang. (Score:2)
I thought Stripe actually acted in a rather sane matter, so it's sad read about an impending IPO. For the unaware, this means they will do anything for profit, ethics be damned.