The startup raised $600 million in new funding on Wednesday, boosting its already sky-high valuation to nearly $36 billion.
The funding was an extension on the startup's Series G round and came together in the past few weeks amid the coronavirus outbreak, as Stripe snapped up a growing number of customers. Digital payments platform Stripe has raised $600 million in new funding and is now valued at nearly $36 billion, co-founder and president John Collison tells Axios.
Stripe was widely viewed as a 2019 IPO candidate. When that didn't happen, a 2020 IPO candidate. But Collison and his CEO brother Patrick have steadfastly refused to publicly comment on their timeline .Stripe also may be one of the few companies to be somewhat benefiting from lockdowns, given its focus on e-commerce enablement.Collison says that businesses that joined Stripe since March 1 have generated nearly $1 billion in revenue already.
"This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."
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