Sat, Nov 23 2024
In its tender offer, which it launched at the end of February, fintech giant Stripe raised $694.2 million, as per a regulatory filing with the US Securities and Exchange Commission (SEC).
With a deal valued at $65 billion, the firm disclosed in February that it has "signed agreements with investors to provide liquidity to current and former Stripe employees through a tender offer."
When the company raised more than $6.5 billion in investment from investors last year, its valuation of $50 billion increased by 30%. Last year, Stripe also paid an unknown sum to buy Okay, a fintech company based in San Francisco.
Stripe's chief financial officer, Steffan Tomlinson, highlighted partners like Airbnb, Microsoft, Uber, and WhatsApp when announcing the tender offer back in February. He said the company's new valuation came as the business continued to "see strong momentum with the most advanced companies in the world."
"While investors are providing the majority of the funds for the tender offer, Stripe will also use a portion of its own capital to repurchase shares to offset dilution from the company's employee equity compensation programs," the statement from the firm continued.
The announcement coincides with ongoing rumors that Stripe may file for an initial public offering (IPO) in the near future. However, the business has not yet disclosed any intentions to go public.
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