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Stripe raises $600M at nearly $36B valuation

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Re: Stripe raises $600M at nearly $36B valuation

#181

Post by robhunter »

pc wrote: post #75

Stripe cofounder here. This isn't really new -- it's an extension of our last round ( https://www.cnbc.com/2019/09/19/fintech-start-up-stripe-notc... ). That said, we've seen a big spike in signups over the past few weeks. If any HN readers have integrated recently and have feedback, we're always eager to hear it. Feel free to email me at patrick@stripe.com and I'll route to the right team(s). As always, thank you to…

Stopping new Stripe Capital offers during the COVID-19 pandemic is completely understandable, but feels like it wasn't really well communicated to long-term clients.

Will you continue to originate new Strike Capital offers? When?

Re: Stripe raises $600M at nearly $36B valuation

#182

Post by bagacrap »

remote_phone wrote: post #59

I hope they are letting the employees cash out at these rounds. Otherwise they will end up like Uber, Lyft and other unicorn employees that not only got screwed by the IPO, but the subsequent taxes because of that. I know many Uber employees that need to sell at these low prices just to pay taxes and their RSUs leaving them with very little actual gains.

Are employees supposed to make gains on their equity based compensation when their company underperforms? Isn't this a risk you take when joining a startup? Thus far the only thing Uber has ever proved successful at, financially, was taking VC money. So it sounds like what you're asking for is that startup employees be allowed to siphon vc funds into their personal bank accts.

Re: Stripe raises $600M at nearly $36B valuation

#183

Post by criddell »

pc wrote: post #31
jacquesm wrote: post #25

Earlier quoted context omitted.

In which book is $600M 'a little' :) Really, that's boatload of money by any standard.

Fair :-). "A little" relative to market cap. But, yes, $600M is a staggering amount of money in absolute terms.

Please tell me it's to fund a massive expansion of Stripe Press! I want more books like The Dream Machine!

I just looked at your site and saw a book about Prince of Persia I hadn't seen before. I'm trying not to buy any more books because my stack is already too big but it's really tempting...

Re: Stripe raises $600M at nearly $36B valuation

#184

Post by littlethings »

Stripe user here (Stripe Singapore) since 2016 and processed a loooot of money which was a life-changing thing for me and many other people.

Patrick, I appreciate how supportive you are here so I hope you don't mind this turning into Q&A/support type of topic :D

1) Do you plan to lower the currency conversion fees for Singapore? We charge customers in USD but we are forced to convert to SGD and conversion fees adds up. On 99USD charge, with the current conversion, we get around 138 SGD but the net for us is 133 SGD because the processing fee is ~5.20SGD. That fee was lower before. There is no problem for us getting an extension of our account in USD currency so we could avoid unnecessary conversion USD->SGD fees.

2. Chargebacks. A real pain in the ass. I shared a post on IH about it. Basically there is no way for us to issue someone a refund if they are doing a chargeback. This is a real problem that is relatively easy to solve. PayPal does it - basically, if the customer submits dispute, PayPal first tries to contact the seller to voluntarily provide the refund and only if they refuse, the dispute is being reviewed. Why Stripe cannot work this way? That would save a lot of drama and stress involved running the business for both sides - you and us, your customers.

3. Pricing info. It's still very confusing on your website to understand what and how you charge for particular add-ons and whether we are grandfathered and have these add-on services included free of charge (since we have been with you since 2016).

Re: Stripe raises $600M at nearly $36B valuation

#185

Post by wilg »

pc wrote: post #75

Stripe cofounder here. This isn't really new -- it's an extension of our last round ( https://www.cnbc.com/2019/09/19/fintech-start-up-stripe-notc... ). That said, we've seen a big spike in signups over the past few weeks. If any HN readers have integrated recently and have feedback, we're always eager to hear it. Feel free to email me at patrick@stripe.com and I'll route to the right team(s). As always, thank you to…

We had to move off of Stripe because Stripe doesn't handle tax collection and remittance. We've moved to Paddle which takes care of that for us. Recommend!

Re: Stripe raises $600M at nearly $36B valuation

#186

Post by carapace »

herman_toothrot wrote: post #150
carapace wrote: post #99

Earlier quoted context omitted.

PayPal owes me $200. I got a letter from the state comptroller saying that paypal had been trying to reach me and my money was about to revert to the state and call this number to get it. So I called the number, and they ask me, "Do you want it in a check or in your paypal account?" Well that account has been frozen for years so I say, "Send me the check." That was a few years ago now and I'm still waiting. Fuck PayP…

Did you try to recover the money through the state? Most states have a site through comptroller/treasury/etc. where you can start a claim process. (Assuming that paypal reported the uncollected money correctly.)

No. My consulting rate starts at $200 per hour so it's just not worth it.

THX-1138, eh?

I talk shit about it (and will continue to do so until the Sun grows cold or PayPal goes under, whichever comes first) because it's the only way to get them back for robbing me. The actual $200 mean almost nothing to them either, so I just rub my muddy boots on their couch from time to time.

"Fuck yo' couch Eddie Murphy" (head's up the n-word is in there: https://www.youtube.com/watch?v=JcJkhSUSnek )

Re: Stripe raises $600M at nearly $36B valuation

#187

Post by HatchedLake721 »

ttoinou wrote: post #90

I wished I could use Stripe but when selling worldwide you need to send the V.A.T. / G.S.T. to each country and US state you're dealing with. With customers all around the globe it means something like minimum 50 tax invoices to fill and send for me

Try Paddle, takes care of it worldwide

Re: Stripe raises $600M at nearly $36B valuation

#188

Post by [deleted] »

nickjj wrote: post #69
fbelzile wrote: post #55

I'm very happy with Stripe and for their success, but I plan on switching all my payments to go through PayPal again. I did some math and PayPal offers a better deal for Canadian businesses after Stripe bumps me off of their grandfathered conversion fees in a couple months. I love the slick interface, but it's simply not worth the thousands per year I'll be saving with the switch. For me the main selling point for an…

Are you planning to go through PayPal directly or Braintree? One thing I notice is, I get much less fraudulent payments through PayPal, and when I do get them it's handled automatically (and most of the time they end up being not fraud because PayPal investigated it and released the funds). 100% hands free, $0 in fees. With Stripe, not only do I get more fraudulent payments but you need to pay $15 as a dispute fee th…

[deleted]

Re: Stripe raises $600M at nearly $36B valuation

#189

Post by mtm7 »

saadalem wrote: post #169

if HNers are asking specifically for how to beat Stripe, Paypal in business I would say quite simply process more transactions or offer more flexible rates or services. Both are great companies that have grown into larger players. However, they still only account for a non material portion of total transaction value and volume when it comes to commerce. Therefore, they can be caught to in many areas. Take for example…

I love Stripe and have been a happy customer for years. But to piggyback off of this comment, one thing I've always wanted from them is plug-and-play subscription management, similar to Memberful[0].

[0]: https://memberful.com/

Re: Stripe raises $600M at nearly $36B valuation

#190

Post by sauravt »

plantain wrote: post #136
pc wrote: post #75

Stripe cofounder here. This isn't really new -- it's an extension of our last round ( https://www.cnbc.com/2019/09/19/fintech-start-up-stripe-notc... ). That said, we've seen a big spike in signups over the past few weeks. If any HN readers have integrated recently and have feedback, we're always eager to hear it. Feel free to email me at patrick@stripe.com and I'll route to the right team(s). As always, thank you to…

My top issues running my business on Stripe: 1) Many countries still only allow depositing a single currency (i.e. Aus/AUD), doubling the cost of transaction due to the currency conversion, even tripling when we have to convert it back to pay our bills. I always get told either "soon", or "not possible due to the law", despite competitors doing it. 2) If we were an EU company, we'd get charged 1.4%+25c on transaction…

Hi, I couldn't agree more with your concerns. I am working on a solution to solve this. Please reach out to me via email on my profile. Thanks
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