Stripe disclosed in a US Securities and Exchange Commission filing on 12 April 2024 that it had raised $694.2 million for a tender offer allowing employees to liquidate a portion of their shareholdings while establishing a fresh valuation for the payments company of $65 billion — a figure that represents an increase of approximately 30 per cent from the level recorded the previous year.
The tender offer had been announced in February 2024 and was structured primarily to enhance liquidity for staff rather than to raise operational capital for the business. The transaction carried no commitment regarding a timeline for an initial public offering.
PRIOR VALUATION
Stripe had been valued at as much as $95 billion in 2021.
The company, founded by brothers Patrick and John Collison and headquartered in South San Francisco and Dublin, processes payments for millions of businesses globally and has expanded into adjacent financial infrastructure products including billing, treasury, and business lending tools for its merchant clients.
The tender structure meant that the $694.2 million raised went to selling employees rather than onto Stripe's balance sheet.
NO IPO TIMELINE
Stripe did not attach any IPO timeline to the April tender offer. The company has previously explored the possibility of a direct listing or traditional initial public offering but has not set a firm date.
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