Share this article
BTC
$84,721.24
-
0.06%ETH
$1,594.96
-
0.40%USDT
$0.9995
-
0.01%XRP
$2.0893
-
1.16%BNB
$591.31
+
0.58%SOL
$134.82
+
0.52%USDC
$0.9997
-
0.02%DOGE
$0.1564
-
0.33%TRX
$0.2443
-
1.33%ADA
$0.6176
-
0.73%LEO
$9.1430
-
3.34%LINK
$12.61
+
0.67%AVAX
$19.14
-
1.37%XLM
$0.2446
+
2.28%TON
$2.9934
+
1.17%SHIB
$0.0₄1209
+
1.53%HBAR
$0.1661
+
3.50%SUI
$2.1382
+
1.29%BCH
$332.20
-
0.11%LTC
$75.85
+
0.66%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Payments Processor Stripe Secures $6.5B in Funding at $50B Valuation
Stripe's valuation has fallen about 47% from its 2021 fund raise of $95 billion.
Payments processor firm Stripe said it signed agreements to raise more than $6.5 billion at a valuation of $50 billion, which is about 47% lower than its 2021 valuation of $95 billion.
The company said in a press release on Wednesday that it doesn't need the capital to run its business; rather, it will use the proceeds to provide employee liquidity. "The funds raised will be used to provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors," according to the press release.
STORY CONTINUES BELOW
The investors for the new round included existing Stripe shareholders Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners and Thrive Capital, and new investors GIC, Goldman Sachs Asset and Wealth Management and Temasek, the company said in the statement.
In November, Stripe said it was cutting over 1,000 jobs, or 14% of its staff, citing macroeconomic factors including inflation, rising energy prices and higher interest rates.
Goldman Sachs served as sole placement agent on the new funding round, and JPMorgan acted as financial advisor.
Read more: Stripe Debuts Fiat-to-Crypto Payment Offering for Web3 Businesses
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.
