Digital Payments Platform Stripe has yet to plan to publish it, but in the meantime, the company has cast a line of liquidity on past and present employees. The company confirmed Thursday a tender offer in which investors would acquire shares from those employees at a valuation of $91.5 billion. Stripe said it will buy back the shares as part of the transaction.
The spokesman refused to say who was in the second round, except to confirm that it is “mainly” an existing investor. Past supporters of company numbers with over 150 investors per pitchbook data. These include common catalysts, GV, Silver Lake, Atomico, Elon Musk, Salesforce and more.
The tender offer was a decent jump in the company’s valuation from the last secondary sale a year ago, valued at $70 billion. However, Stripes did not reach a high watermark $95 billion valuation in 2021. That round came when e-commerce itself was booming due to the Covid-19 pandemic.
The news coincides with Stripe’s annual letter written by CEO and co-founder Patrick Collison. This noted that payments in 2024 increased to $1.4 trillion, an increase of 38% over the previous year.
It’s a big number for Stripe, but to put that into some context, Visa said its payment amount for 2024 was $13.2 trillion. The margins that stripes make in transactions (which constitute payment volume) remain thin, so this business still has room (and needs) to expand.
Stripe also adds that half of the Fortune 100 companies are currently using it, working with other startups to highlight how it came from the startup to major enterprise players.
The tender offer was originally reported to be under work earlier this month.
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