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

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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.

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