Posted on Friday, Sep 25th 2020
start of the year, analysts expected Stripe, the online payment processing service provider, to go public. Stripe, however, had denied any such plans despite continuing to add to its leadership portfolio. Given the current conditions though, that IPO listing may not be happening soon. Stripe’s Financials
San Francisco-based Stripe was set up in 2010 by brothers John and Patrick Collison who wanted to set up an online platform to simplify the process of accepting payments for websites and apps. Stripe allows companies to set up credit card processing capabilities on their digital pages by just embedding a simple code.
Stripe earns revenues by charging a fee on the transactions conducted through its platform. It charges a rate of 2.9% of the transaction value plus a commission of $0.30 per transaction. Being privately held, it does not disclose its financials. Recent reports estimate its revenues at $512.4 billion.
Stripe is venture funded so far and has raised $1.6 billion in thirteen rounds from investors including Capital G, Visa, Thrive Capital, Khosla Ventures, Founders Fund, General Catalyst Partners, Sequoia Capital, Allen & Company, Y Combinator, SV Angel, Aaron Levie, Chris Dixon, Elad Gil, Peter Thiel, Elon Musk, and Andreessen Horowitz. Its last round of funding was held in April this year, when it raised $600 million at a valuation of $35 billion. The round was led by Andreessen Horowitz, General Catalyst, Alphabet’s GV, and Sequoia Capital. Stripe’s valuation has seen a steady increase. In 2016, it
had raised $150 million at a valuation of $9.2 billion. Prior to that, a July 2015 round had valued it at $5 billion. Stripe’s Growing Partnerships
Stripe has been expanding its market presence within the enterprise segment through partnerships with other tech giants. Recently, it announced a new partnership with Salesforce. As part of the agreement, Strip will process payments for Salesforce’s new commerce service called Digital 360. Large Salesforce customers using Digital 360 will have the option to set up their payments-processing for e-commerce through Stripe. Stripe has been focused on attracting larger enterprises and now
has an estimated 40 companies processing more than $1 billion in payments over its platform annually.
Earlier this year, it also entered into a partnership with Japan’s international payment brand, JCB. The partnership will enable businesses to accept online payments with JCB using Stripe. Eligible Stripe-powered businesses will also have faster access to JCB funds in their account. Additionally, businesses on Stripe in the US, Canada, Australia, and New Zealand, will be able to instantly accept payments from JCB cardholders, thus accelerating commerce between Japan and the rest of the world.
Stripe has been expanding its presence internationally, and tie-ups like those with JCB have helped it leapfrog in some markets. Despite the COVID-19 crisis, the company has grown its international presence and is now available in 39 countries of which 28 are in Europe.
The current pandemic has accelerated the move to a digital economy. Other online payment processing services, like Square and PayPal have had a strong run so far, delivering robust revenue growth. For the last quarter, Square’s revenues grew to $1.9 billion from $1.2 billion a year ago and PayPal’s revenues grew 23% over the year to $5.3 billion. Both Square and PayPal are listed companies that have seen their stock grow despite the pandemic.
Stripe continues to add leaders in key positions. Recently it announced the addition of Dhivya Suryadevara, former General Motors CFO, as its CFO. It also added Mike Clayville, an ex-AWS executive, as its Chief Revenue Officer. Analysts are still hopeful that the company will list soon. Stripe wants to take it slow and invest in growth instead.
This segment is a part in the series : Billion Dollar Unicorns . How Marketo Is Faring In The Public Market . Workday's Ramp to Multi-Billion Valuation . ServiceNow's Expanding Market Opportunity . Tableau's Valuation Increases to $6 Billion . A Rare Media Venture Called Vice . Will Box Implode Post IPO? . Net-a-Porter Cracks The Luxury Fashion Market . Outbrain Prepares for an IPO . Palantir's Skyrocketing Valuation May Be Justified . Online Education Player Lynda.com More »» . Pluralsight's Impressive Rise . Snapchat Explores Revenue Generating Options . Analysts Project Revenue for Pinterest . The Market Awaits Etsy's IPO . Taboola's Content Marketing Growth . Egnyte Eyes IPO in 18 Months . Web 3.0 and E-Commerce Investment Thesis of 3 VCs . Cleversafe's Unique IP Strategy . Cloud Investment Thesis of 5 VCs . GoDaddy Shying Away from IPO, Yet Again . Can Square Sustain Its Valuation? . Zulily Tumbles . MuleSoft Will Be Joining Soon . Bootstrap First, Raise Money Later . ShopClues in India Shows Unicorn Characteristics . What Have You Learned? . ASOS Shines From London . Xiaomi Overtakes Samsung in China . eClinicalWorks Bootstraps With A Paycheck . Strategies From 5 Entrepreneurs . Lending Club Focuses on Growth Post IPO . Slack Speeds Its Way To The Mark . Eventbrite Shies Away from an IPO . Meituan Leads China's Group Buying Market . Gilt Groupe Delays IPO . Veeam Wants To Stay Private . Nextdoor's Valuation Skyrocketing With No Sign of Revenues . Stripe Exploring Tie-Ups for Growth . HubSpot Sustains Solid Growth Post IPO . Shazam Makes it to the Club . OnDeck Scoring in Small Businesses Instant Loans . Fat Startup Adaptive Insights Leading in Cloud CPM . Cloudera Leverages Open-Source Hadoop to Create a Multi-Billion Dollar Business . Evernote Cracks the Freemium Model . Rocket Fuel Crashes on Results . MongoDB Rises High on NoSQL Databases . Shopify Preparing for an IPO . JustFab Getting Ready for an IPO . Kabam to Stay Private? . 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Improbable Joins the Club . Why Cloudera Continues to Stumble . Can MongoDB Sustain Unicorn Status? . Can Okta Sustain its Valuation? . Is Stitch Fix the Next Blue Apron? . Atlassian is Doing Everything Right, But is it Too Expensive? . How Does Domo's Valuation Compare with Tableau's? . Is the Duopoly Keeping AppNexus from Listing? . Why Doesn't Adyen Want to Go Public? . Will Zuora be able to Compete with Oracle? . Will DocuSign Cave in to Potential Buyers? . Should Xiaomi List at a $50B+ IPO Valuation? . What is Marketo's Roll-up Strategy? . Will Apptio Expand Internationally? . What is Anaplan's Product Strategy? . Will Apttus Take the Plunge? . How Will Nutanix Control Dell? . Does New Relic Plan to Consolidate the APM Market? . What is Coupa's Next Acquisition? . Will Medallia Help Consolidate? . How Will Ellie Mae Handle Looming Mortgage Worries? . Will Zoom Go Public or Get Acquired? . Is GoodData Ready to Go Public? . Will a Sales Strategy Change Help Cloudera? . Can Splunk Sustain its Price Point? . Can Fortinet Get to $10 Billion in Revenue? . What Other MarTech Startups Will HubSpot Acquire Next? . What is Okta's Inorganic Growth Narrative? . What Will Atlassian Acquire Next? . Will C3 IoT Look to Acquire a few Indian Startups? . Is Microsoft Planning to Buy InsideSales? . BlackLine Striking Powerful Partnerships . How Will GitHub Reach Its Billion Dollar Revenue Target? . Fitbit Struggles to Stay Relevant . Squarespace is Willing to Wait Patiently For an IPO . Adyen Ready for an IPO . Pinterest Revenues Jump 58% . Airbnb Delays IPO Plans, Again . Box Continues to Grow, But Profits Still Absent . Zscaler is the Top US Tech IPO of 2018 . How Will Dropbox Position in Collaboration? . Smartsheet Goes Public but Profits Appear Distant . Everbridge Continues to Soar . Pluralsight Goes Public . Cornerstone OnDemand Faces Intense Competition . SurveyMonkey Finally Files to Go Public . Is Affirm Overvalued? . 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