Digital Payments Platform Stripe invites customers to their management team meetings every other week to get “candid feedback,” according to co-founder Patrick Collison.
In a post on April 8th for X, the CEO of FinTech Giant said the company has customers in attendance during the first 30 minutes of the meeting.
“There are already many customer feedback mechanisms, but they always encourage new ideas and research,” he writes.
This is an interesting strategy from Stripe, founded in 2010, and is considered the most valuable private fintech in the world (the latest rating was $91.5 billion).
For years, startups have anecdotally complained that Stripe is more focused on larger customers than the small customers they are trying to serve. But the company must be doing the right thing. A February Stripe annual letter written by Collison said payments in 2024 increased to $1.4 trillion, an increase of 38% the previous year.
Stripe has also been added to a letter that it is currently used by half of the Fortune 100 companies, highlighting its collaboration with other startups to collaborate with leading enterprise players.
In an X post, Collison answered the CloudFlare CTO’s question about when his company would be invited, saying, “I love reaching out to you guys.”
In terms of small businesses that feel ignored, one investor wrote: “Hello Patrick – I know I’ll praise @stripe, but I need to be careful about the extent to which things have deteriorated to the indie community using stripes. I supported them a week ago. No responses.
Many praised the move, with one user saying, “Love this. It helps to focus on what culture matters and reconcile reality.”
And, of course, some Stripe customers have used X-posts to post complaints (here and here).
However, one well-known founder appeared to approve of Stripe’s approach. Elon Musk responded to the post with a simple “good idea.”
Source link
