Payment processor Stripe raised $6.5 billion, largely to provide liquidity to current and former employees, but at a sharply discounted $50 billion valuation.
Payment processor Stripe raised $6.5 billion, largely to provide liquidity to current and former employees.
The financing round values the company at $50 billion, down by almost half from its peak of $95 billion two years ago. The company will acquire current and former employees' shares with proceeds from the non-dilutive raise.Jacques Demarthon | AFP via Getty Images, a sharp discount from its record valuation of $95 billion in 2021.
"Stripe does not need this capital to run its business," the company said in a press release. The cash raise — with contributions from Andreessen Horowitz, Founders Fund, , and Temasek — will instead go towards providing liquidity to "current and former employees" and tax obligations associated with equity awards.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shop Kendall Jenner’s TikTok-viral top for under $50“These tops from intimissimi are actually perfect,” one TikTok user raved of the shirt, which Jenner wore on Jay Shetty’s podcast earlier this year.
Read more »
Jacksonville city council expected to pass $50 million for University of Florida satellite campusJacksonville city leaders are prepared to spend millions of your tax dollars on a project we know little about...the University of Florida satellite campus.
Read more »
Classic Microsoft apps for Mac or Windows, now on sale for only $50Streamline your personal and professional work with Office 2021.
Read more »
Apple’s second-gen Magic Trackpad hits its best price in monthsThe Xbox Series X is still $50 off at Verizon.
Read more »
Chart: Silicon Valley Bank CEO's stock holdingsThe value of SVB Financial CEO Greg Becker's shareholdings collapsed along with the bank he led.
Read more »
Icahn launches proxy fight at Illumina, seeks board seatsBillionaire investor Carl Icahn is pushing for three board seats at Illumina, criticizing the biotechnology company's acquisition of a cancer test developer that cost investors $50 billion.
Read more »