This comes at a $50bn valuation, down from $95bn in 2021
IN BRIEF:
- Stripe has pointed out this money is not needed to run the business but rather to address issues concerning employee equity packages
- Stripe will provide liquidity to employees while addressing employee withholding “tax obligations”. The shares will then be retired to offset the issuance of new shares to Series I investors
- Stripe has also partnered with OpenAI who will use Stripe’s payment platform as it continues commercialising its AI services
What does this mean?
“Over the last 12 years, current and former Stripes have helped build foundational economic infrastructure for millions of businesses around the world, and this transaction gives them the opportunity to access the value they’ve helped create,” said John Collison, cofounder and president of Stripe. “But the internet economy is still young, and the opportunities of the next 12 years will dwarf those of the recent past. There’s so much to discover and to create. For us, it’s now back to work.”
