The Strategist

Stripe becomes Silicon Valley's highest-rated company


03/15/2021 - 03:03



Payments company Stripe has raised $600m in its latest round of investment, the Financial Times (FT) reports.



Advantus Media Inc. and QuoteInspector.com
Advantus Media Inc. and QuoteInspector.com
In total, investors valued the company at $95 billion, $15 billion more than Facebook's valuation prior to its IPO in 2012 and a record for a private Silicon Valley company.

Stripe has become the third highest valued company in the world, the FT specifies. In first place is China's ByteDance (owner of the social network TikTok) which is valued at $180bn. Second place goes to Jack Ma's Ant Group, a fintech group whose valuation, according to Bloomberg, fell to $108bn by the end of January due to pressure from the Chinese authorities and the suspension of its IPO.

Stripe's next round of investments included the National Financial Management Agency of Ireland (the country's sovereign wealth fund operator), Allianz, Fidelity, Baillie Gifford, AXA and Sequoia Capital. PayPal founders Elon Musk and Peter Thiel, as well as accelerator Y Combinator, invested in Stripe early on. 

The FT reports that Stripe intends to use the investment to expand its business in Europe, including expanding its staff in Dublin, Ireland by 1,000 people, as well as launching the service in Brazil, India and Indonesia in 2021.

source: ft.com




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