Stripe’s Valuation Hits $95 Billion
Stripe Has Nearly Tripled Its Valuation
Online payment company Stripe has secured $600 million in a Series H funding round, bringing its valuation to $95 billion. This is almost three times its last reported valuation of $36 billion from April 2020.
With this new funding, Stripe has become Silicon Valley’s most valuable private company. It overtook SpaceX, which was most recently valued at $74 billion, and Instacart, which was valued at $39 billion earlier this month. Internationally, Stripe’s valuation is below that of privately-held ByteDance, the parent company of TikTok. The Chinese app developer was valued at $180 billion in December.
Stripe’s Role in the Ecommerce Boom
Stripe builds software which allows companies to accept online payments. As the pandemic set in a year ago, businesses both large and small shifted their operations online almost overnight. As a result, demand for Stripe’s services surged. “Several years of offline-to-online migration are being compressed into several weeks,” Stripe’s leadership explained during the company’s previous funding round in April.
Many people have grown accustomed to the convenience of online shopping during the pandemic and may not return to their pre-pandemic habits even when more of the population has the COVID-19 vaccine. This means that Stripe could be positioned for even more growth.
Plans for the Future
With its fresh funding, Stripe will expand its operations in Europe. It also plans to launch in Brazil, Indonesia, and India later this year.
Many Investors are curious about when the company might pursue going public. The company’s co-founder John Collison last year said Stripe has “no plans” to go public right away, despite its impressive growth and valuation.
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