Major payment infrastructure stripe today announced that it has entered into an agreement with investors to provide liquidity to current and former employees through a tender offer valued at $65 billion.
Notably, this valuation represents a 30% increase compared to the valuation at which Stripe was valued last March. Raise $6.5 billion in Series I funding The valuation is $50 billion. But it's still below. Valuation of $95 billion Achieved in March 2021.
Stripe declined further comment, but written statementStripe and some investors have agreed to buy more than $1 billion in stock from current and former Stripe employees, a person with knowledge of the company's internal affairs told TechCrunch.
A company that counts things like alaska airlines, best buy, lotus cars, microsoft, Uber and Zara As a customer, I noted the following during the last price increase: The proceeds will be used to “provide liquidity to current and former employees and address employee withholding obligations related to stock-based compensation.” This will result in the cancellation of Stripe shares, offsetting the issuance of new shares to Series I investors, it added.
Stripe's IPO has been long anticipated and widely expected to happen in 2024. However, as a result of this deal, it appears that the initial public offering may not occur until next year.
In January, in anticipation of its IPO, TC's Rebecca Szkutak said, according to secondary data tracker Caplight:sheer haste Percentage of buyers looking to acquire stock in the company in recent months. ” On January 2, the secondary sale concluded, valuing Stripe stock at $21.06 per share and valuing the startup at $53.65 billion, according to Caplight data.
Stripe did not name the investors participating in the latest deal, but a managing partner at Sequoia Capital said: Mr. Roelof Botha is quoted in Stripe's announcement, wall street journal Quote Goldman SachsGrowth Equity Fund is another backer.
The Journal also reported that the deal is “part of the Collison brothers' commitment to provide annual liquidity to longtime and former employees.” People familiar with the company's internal affairs said the commitment is to provide liquidity “regularly,” but not necessarily annually.
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