Stripe’s valuation has edged up to $70 billion (€64 billion) as Sequoia Capital offers to buy shares from its investors looking to cash out of the fintech that helps merchants process customer payments.
Sequoia is offering to buy Stripe shares at $27.51, according to people familiar with the matter, who asked to not be identified because the details aren’t public. The venture capital firm offered that price to limited partners in funds raised between 2009 to 2011 who might want liquidity for their shares, Axios reported Monday. Sequoia is buying up to $861 million in shares, one of the people said.
Representatives for Stripe and Sequoia declined to comment.
Stripe, one of the most valuable private tech companies, was founded and is still led by Irish brothers John and Patrick Collison. It was most recently valued at $65 billion after striking a deal that allowed current and former employees to cash out some of their shares. That was up from a $50 billion valuation that was below the $95 billion it was worth in a 2021 funding.
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Stripe has grown significantly since its founding more than a dozen years ago. Stripe competitors include PayPal Holdings and Adyen. – Bloomberg
