Stripe slashes valuation to $50 billion in new $6.5 billion funding round
Publishing timestamp: 2023-03-15 18:57:33
Summary
Payment processor Stripe raised $6.5 billion in a financing round that values the company at $50 billion, down from its peak of $95 billion two years ago. The company will use the funds to provide liquidity to current and former employees and to cover tax obligations associated with equity awards. Stripe builds payment processing software for e-commerce businesses and has remained privately owned for over a decade, despite frequent speculation about an IPO. The company has long maintained that private ownership is optimal.
Sentiment: NEUTRAL
Keywords: venture capital, business news, investment strategy, goldman sachs group inc, jpmorgan chase & co, breaking news, goldman sachs bdc inc, internet, technology,