News Formal

President, cofounder John Collison on why Stripe raised $600 million - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The president of $36 billion payments company Stripe says it raised $600 million in fresh funding so it can keep hiring and growing despite the downturn: 'We want Stripe to be able to keep investing'

at a sky-high $36 billion valuation from Andreessen Horowitz, GV , Sequoia, General Catalyst, and other investors. and increased its valuation only slightly from $35 billion. The company indicated at the time that it would not seek an IPO any time soon and there's no sign that anything's changed since.

At the same time, Collison says, the funding comes as Stripe enjoys a position of strength: The company said on Thursday that it has over $2 billion on its balance sheet, and that it had already signed big customers like Mattel, NBC, and food-delivery app Caviar in the first few months of the year.

Collison says that Stripe sees this kind of M&A as "the sensible thing to do," and that the company is always looking for good opportunities to buy startups.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Digital payments platform Stripe raises $600 million - Business InsiderStripe has been thriving during the country-wide lockdown, thanks to its focus on enabling businesses to allow online purchases. ridiculous
Source: BusinessInsider - 🏆 729. / 51 Read more »

Digital payments platform Stripe raises $600 million - Business InsiderStripe has been thriving during the country-wide lockdown, thanks to its focus on enabling businesses to allow online purchases. ridiculous
Source: BusinessInsider - 🏆 729. / 51 Read more »

AI security startup Onfido used this pitch deck to raise $100 million - Business InsiderBuzzy AI security startup Onfido has raised $100 million. We got an exclusive look at its pitch deck.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Startup BioCatch raises $145 million as behavioral biometrics boom - Business InsiderAI startup BioCatch raises $145 million to help banks change how they do fraud detection because the coronavirus crisis means people don't want to use public touchscreens
Source: BusinessInsider - 🏆 729. / 51 Read more »