After a new $600-million funding round, which puts the company’s value at $95 billion, Stripe is now America’s most valuable startup. Space X and Instacart round out the top three slots, with $74 billion and $39 billion respectively.
What Catapulted Stripe to the Top of the Startup Valuation Ranks?
Ultimately, the pandemic proved to be a blessing for Stripe. More people started shopping from the comfort of their couches and the e-commerce sector boomed. As a result, Stripe is now the most valued startup in the United States. Worldwide, top honors still go to Bytedance, the Chinese company that owns TikTok, with its $143 billion valuation.
Stripe’s latest capital influx nearly triples the payment processing company’s valuation.
Stripe Expanding in Europe
According to reports, Stripe intends to use its new financing round for European expansion, and the move makes sense. Currently, 31 of Stripe’s 42 operating countries are in the EU, and it boasts some major EU corporations as clients, including Axel Springer, Jaguar Land Rover, Maersk, Klarna, and Deliveroo.
John Collison, Stripe’s president and co-founder, explained that the company is “investing a ton more in Europe this year, particularly in Ireland.” The funding round’s backers represented an impressive sampling of top global investors, including Allianz, Baillie Gifford, Fidelity, and Sequoia Capital. As such, worldwide expansion makes the most sense. Recent board acquisitions — including the likes of Mark Carney, former governor of the Bank of England — also highlight Stripe’s global aspirations.
Does Stripe Accept Bitcoin and Other Cryptocurrencies?
News of the funding influx triggered chatter about a 2021 IPO for Stripe, especially in the wake of the cryptocurrency surge. But as of this writing, the startup has yet to file the requisite paperwork.
Stripe was an early Bitcoin adopter and began supporting the digital currency in 2014 but stopped in 2018, instead choosing to focus on credit card, debit card, and mobile wallet transactions. But the company isn’t anti-crypto. Instead, it believes that “bitcoin has evolved to become better suited to being an asset than being a means of exchange.”
Speak With an Arizona Startup Lawyer
Are you involved in an Arizona startup? Do you need to speak with an attorney about a few things? If yes, get in touch. I’ve worked with Arizona startups for over a decade and most likely have the answers to all your questions. I can also handle various legal tasks, like corporation formation, intellectual property registration, marketing compliance audits, contract drafting, and more.
Reach out today. Barring unforeseen natural acts, I’ll be in touch within 12 to 24 hours.
