Stripe announced a new tender offer on Thursday, cherishing the company for $91.5 billion. The offer gave employees and early investors another opportunity to sell their shares, bringing the fintech giant closer to a peak rating of $95 billion in 2021 after a rough post-Covid market slump.
Just two weeks ago, reports surfaced that Stripe was negotiating a sales of its employees’ stock at a $85 billion valuation. The final deal was high, adding $21.5 billion in value compared to last year’s $70 billion tender offer. The boost has increased investor reliability, but it is still below the $95 billion stripe hit during the 2021 high-tech surge.
“On Thursday, Stripe announced a tender offer to employees and shareholders, valued the company at $91.5 billion, potentially delaying the Fintech company’s public ambition,” Reuters reported.
The company’s valuation was dramatic, moving from $95 billion in 2021 to $50 billion in 2023, then back to $70 billion. Previous secondary share sales allowed employees to cash in on shares similar to this latest offer.
The timing is remarkable. A month ago, Stripe cut 300 jobs, affecting about 3.5% of its employees, with most of its cuts into product, engineering and operations teams. At the same time, the company is still expanding, and plans to increase its staffing from 8,500 in January to 10,000 by the end of the year.
Not only is Stripe focused on stock sales, it also has strategic bets, including the $1.1 billion acquisition of Crypto Startup Bridge Network in October. The transaction coincides with Stripe’s broader push to digital payments, providing an easier way for businesses to handle cryptocurrency transactions.
Founded in 2010 by Patrick and John Collison, Stripe has built a strong presence at Fintech, processing more than $1 trillion in payments in 2023. This latest cheeder offer strengthens that stance.
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