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Stripe raises $600M at nearly $36B valuation

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

#311

Post by 3pt14159 »

moneywoes wrote: post #225
3pt14159 wrote: post #76

Earlier quoted context omitted.

I've worked for FreshBooks and three other invoicing or payment related companies, and I have lots of friends that work at Shopify or run online stores. Billing through PayPal is playing with fire. They can and do freeze accounts and it can take months to get the issue resolved. It will probably be fine, of course, but I've seen it happen and personally, if I were in a high margin business, I'd stick to Stripe. Espec…

What about Braintree?

No experience or knowledge to share there, but they're owned by PayPal, so I'd ask around to see if they're any different.

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

#312

Post by ztratar »

pianoben wrote: post #268

Jeez, just go public already! You've had employees waiting for nigh on a decade to realize the value of what they've built, but instead it appears that those gains are just going to VCs (and whoever is privileged enough to take money off the table during these raises). Perhaps I'm being too cynical, and perhaps Stripe is taking a more enlightened view than I'm giving it credit for, but my goodness this trend of large…

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

#313

Post by huhtenberg »

sealthedeal wrote: post #298
huhtenberg wrote: post #94

Earlier quoted context omitted.

Stripe not allowing to withdraw onto USD accounts not located in the US is an absolutely MASSIVE gripe with the service. We operate internally in USD - we sell in USD, we pay in USD, so we end up being shafted with not one, but two pointless FX conversions. And that's without going into minor stuff like the headaches with refunds done at rates, extra accounting overheads, etc.

This is where partnering with a company like Routefusion comes in handy. We would help you repatriate those funds, and move it back to your country of choice at .5% currency exchange :) check us out developer@routefusion.co, and feel free to email me at colton@routefusion.co if you have any questions!

I skimmed through your homepage and I frankly have no idea what you do and who it is for. "International bank-to-bank payments" implies that it's some sort of service for banks.

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

#314

Post by dalanmiller »

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…

Hey there - would love to have a chat with you about some of the issues you're facing and make sure we're tracking accordingly.

Care flicking me an email at dalan@stripe.com or DMing @StripeAustralia?

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

#316

Post by adambyrtek »

infinitelurker wrote: post #310
pc wrote: post #279

Earlier quoted context omitted.

It varies based on the card type, country, and other things. We could expose all of that more directly but the trade-off there is obviously pricing complexity, which we'd like to avoid. In our analysis in making this change, we saw that this simply makes little difference for the vast majority of businesses. For example, if you're processing $100k/year and refund 5% of your payments (which would be on the high end of…

Are those fees also present for transactions that are refunded immediately before they batch (i.e. testing). Let's say a stripe IP wasn't whitelisted on the server and started being denied coming back, causing transactions to fail. If I want to do a quick live environment test on this it now costs my client money, which is not ideal.

You can do that using Stripe test environment and test cards without any fees. Refunds can take over a week to get processed by some banks, so testing on live data doesn't sound like a great idea. But even if you have to do a couple of live transactions I don't see how the cost of refunds could be significant.

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

#317

Post by tewwi »

My biggest concern is data leaking, via web hooks, from other platforms into ours.

Most of our clients use Stripe for payments on our platform. They are connected via Stripe Connect. However a handful of them use other services from other providers as well also with Stripe Connect.

We are seeing web hook events not just for our own platform but also the other platforms too which obviously includes details about the transaction but also often with personally identifiable information such as name, email, address, telephone number.

Your support team acknowledged that they are aware of the issue. The response was:

"Because of how the design of the connected accounts are, any events from that connected account will be sent to all Platforms that the account is connected to. We do understand and see how this is a potential security/safety issue, and we have made note of this to our Connect team.

While we do not have any current plans to adjust this, we are going to discuss things with our Connect team to see if there is a way to we can make this better for our users."

I personally consider this a massive data leak because potentially sensitive information about customers is being shared to companies who have no right to access that information.

I really hope you can look into this.

Regards, Will

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

#318

Post by pianoben »

ztratar wrote: post #312
pianoben wrote: post #268

Jeez, just go public already! You've had employees waiting for nigh on a decade to realize the value of what they've built, but instead it appears that those gains are just going to VCs (and whoever is privileged enough to take money off the table during these raises). Perhaps I'm being too cynical, and perhaps Stripe is taking a more enlightened view than I'm giving it credit for, but my goodness this trend of large…

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Credit where credit due - that's better than most private companies I've heard about. Even so, that's a low bar to clear. Ideally, my employer shouldn't even have a say in my decision to sell or hold my equity once I've earned it. That's a different topic.

Just to be clear, I've never worked at Stripe and have no personal bone to pick. I just think it's a shame that all this wealth generation is happening, and not only is the public frozen out of the growth, many of the talented people who made it happen are _also_ frozen out as well.

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

#319

Post by adambyrtek »

PixelPaul wrote: post #307
plantain wrote: post #136

Earlier quoted context omitted.

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…

I agree with all this and it may be the reason I leave stripe soon. I deal a lot in USD as an Australian company but stripe won’t allow us to charge in USD and settle into our USD bank accounts. But others will. Also the refund issue is crazy, no other provider we use does it.

IANAL, but couldn't you incorporate a wholly-owned US subsidiary using something like Stripe Atlas to handle USD payments and reduce your fees?

By the way, my company has the opposite problem. Our Stripe account is registered in the UK and even though we process payments for Australian customers in AUD their local banks still charge them an extortionate "foreign transaction fee". This means that we had to open a separate Stripe account registered in Australia just to avoid that.

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

#320

Post by sealthedeal »

huhtenberg wrote: post #313
sealthedeal wrote: post #298

Earlier quoted context omitted.

This is where partnering with a company like Routefusion comes in handy. We would help you repatriate those funds, and move it back to your country of choice at .5% currency exchange :) check us out developer@routefusion.co, and feel free to email me at colton@routefusion.co if you have any questions!

I skimmed through your homepage and I frankly have no idea what you do and who it is for. "International bank-to-bank payments" implies that it's some sort of service for banks.

Thanks for the feedback :)

We are an API for cross-border payments. Our customers are international payroll providers, credit card companies, neo-banks, and other types of companies who need to process X-border payments in their application.

If you were an e-commerce store, we could certainly help you re-patriate funds via our web app, but that’s not our focus.

Are you having issues re-patriating funds? Happy to help in anyway I can!

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