• Payment processing company Stripe announced signing agreements for a Series I fundraising of over $6.5 billion at a valuation of $50 billion.
• Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital will participate in the funding round alongside new investors such as GIC, Goldman Sachs Asset and Wealth Management, and Temasek.
• The funds will be used to provide liquidity to current and former employees and address staff withholding tax obligations related to equity awards.
Payment Giant Stripe Clinch $6.5B Funding at $50B Valuation
Stripe announced that they have signed agreements for a Series I fundraising of over $6.5 billion at a valuation of $50 billion. The payment processor company said it doesn’t need the capital to run its business but intends to deploy the funds to provide liquidity to current and former employees and address staff withholding tax obligations related to equity awards.
Participating Investors
The investors who participated in this funding round include Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, Thrive Capital as well as new investors such as GIC, Goldman Sachs Asset & Wealth Management & Temasek. This latest development comes amidst a difficult funding environment with many companies cutting down their costs due to the pandemic situation last year.
Value Created by Employees
John Collison co-founder & president of Stripe weighed in on how employees both current & former helped create foundational economic infrastructure for more than a decade & added „This transaction gives them the opportunity to access the value they’ve helped create“. He further added that there are lots more opportunities waiting ahead for them in the coming 12 years which shall dwarf those of recent pasts.
Funding Environment
Due to the pandemic situation last year many companies had cut down their costs resulting into difficult funding environment however Stripe managed sign agreements for a Series I fundraising of over $6.5 billion at a valuation of $50 billion which is quite remarkable given the ongoing circumstances around us .
Back To Work!
John Collison concluded his statement saying that it’s now back to work for all of them with so much still left out there yet to discover & create!