Valued at $95 billion in March 2021, Stripe vastly exceeded its fundraising target of $4 million after receiving a higher level of demand from investors than was initially expected. Among the major contributors during the latest round were venture capital firms Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital.

Stripe confirmed that it does not require its newly acquired funds in order to assist in the running of the business, instead putting the investment towards covering a tax bill concerning stock granted to employees while using the remainder to buy shares from employees. About $3.5 billion is expected to be put toward the tax bill.

New investors that joined in the latest round of investment include GIC, Goldman Sachs Asset and Wealth Management, and Temasek.

The post Stripe Halves Valuation In Latest Fundraising Round appeared first on theprimarymarket.com.

The latest Series I funding round saw contributions from existing investors like venture capital firm Andreessen Horowitz and private equity company General Catalyst. A number of new investors joined in, including Goldman Sachs Asset Management and Singapore’s sovereign wealth fund GIC.

In a press release shared on Wednesday, Stripe said that the company “does not need this capital to run its business,” Instead, the funds will be used towards settling Stripe’s tax bill and “provide liquidity to current and former employees.”

Stripe was founded in 2009 with the goal of providing businesses with an easy way to accept payments and send payouts via their websites and apps. The company’s early investors were Elon Musk, Sequoia Capital, and Andreessen Horowitz. Over the years, Stripe expanded its business globally and made a series of acquisitions, including Nigerian payment processor Paystack and cloud-based tax service TaxJar.

Stripe remains a privately-owned company, although there have been plenty of rumors about it going public. Some reports indicated that this could happen at some point in 2024 despite Stripe reiterating it prefers its private status.

The post Stripe’s Valuation Drops to $50 Billion After Latest Funding Round appeared first on theprimarymarket.com.

Valued at $95 billion in March 2021, Stripe vastly exceeded its fundraising target of $4 million after receiving a higher level of demand from investors than was initially expected. Among the major contributors during the latest round were venture capital firms Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital.

Stripe confirmed that it does not require its newly acquired funds in order to assist in the running of the business, instead putting the investment towards covering a tax bill concerning stock granted to employees while using the remainder to buy shares from employees. About $3.5 billion is expected to be put toward the tax bill.

New investors that joined in the latest round of investment include GIC, Goldman Sachs Asset and Wealth Management, and Temasek.

The post Stripe Halves Valuation In Latest Fundraising Round appeared first on theprimarymarket.com.

The latest Series I funding round saw contributions from existing investors like venture capital firm Andreessen Horowitz and private equity company General Catalyst. A number of new investors joined in, including Goldman Sachs Asset Management and Singapore’s sovereign wealth fund GIC.

In a press release shared on Wednesday, Stripe said that the company “does not need this capital to run its business,” Instead, the funds will be used towards settling Stripe’s tax bill and “provide liquidity to current and former employees.”

Stripe was founded in 2009 with the goal of providing businesses with an easy way to accept payments and send payouts via their websites and apps. The company’s early investors were Elon Musk, Sequoia Capital, and Andreessen Horowitz. Over the years, Stripe expanded its business globally and made a series of acquisitions, including Nigerian payment processor Paystack and cloud-based tax service TaxJar.

Stripe remains a privately-owned company, although there have been plenty of rumors about it going public. Some reports indicated that this could happen at some point in 2024 despite Stripe reiterating it prefers its private status.

The post Stripe’s Valuation Drops to $50 Billion After Latest Funding Round appeared first on theprimarymarket.com.