This is not a new valuation, is an extension of their series G from last year which also had a 35B valuation.
That's right; this isn't new. We just decided that it was prudent to extend the round a little given the economic uncertainty.
Stripe raises $600M at nearly $36B valuation
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Re: Stripe raises $600M at nearly $36B valuation
#12So with Stripe, is it industry practice to keep the fee when refunding customers?
For example, if I return something to Best Buy, are they still paying that 2.9% fee to their CC processor?
Re: Stripe raises $600M at nearly $36B valuation
#13I wish stripe would offer some relief for the pandemic to their customers. I use them for my business to process CC's but they have not provided anything. I can't get a PPP loan. I'd accept an interest free loan if they would offer it to my business. They did approve me for a loan but want a fee upfront + a slice of daily sales until its paid back.
We've been working with various government agencies behind-the-scenes and are about to pilot our first PPP loans. (Since so many banks have had troubles with the SBA application process, we want to make sure the process is robust and scaleable before deploying anything broadly.) Feel free to email brayden@stripe.com if you're interested in trying it out.
Re: Stripe raises $600M at nearly $36B valuation
#14I wish stripe would offer some relief for the pandemic to their customers. I use them for my business to process CC's but they have not provided anything. I can't get a PPP loan. I'd accept an interest free loan if they would offer it to my business. They did approve me for a loan but want a fee upfront + a slice of daily sales until its paid back.
We've been working with various government agencies behind-the-scenes and are about to pilot our first PPP loans. (Since so many banks have had troubles with the SBA application process, we want to make sure the process is robust and scaleable before deploying anything broadly.) Feel free to email brayden@stripe.com if you're interested in trying it out.
Thank you for this. It doesn't impact me personally, but every contribution helps.
Re: Stripe raises $600M at nearly $36B valuation
#15I wish stripe would offer some relief for the pandemic to their customers. I use them for my business to process CC's but they have not provided anything. I can't get a PPP loan. I'd accept an interest free loan if they would offer it to my business. They did approve me for a loan but want a fee upfront + a slice of daily sales until its paid back.
Beggars can’t be choosers. The fee and slice of sales until paid back is completely reasonable. Why should one business have to shoulder the struggles of another? Yes, there is potentially a moral obligation to your fellow man. But this is capitalism baby. If stripe handed out a bazillion loans without any expectation they’d be paid back... what do you imagine would happen?
On the other hand, presumably it’s in Stripe’s best interest for its customers to stay afloat.
Re: Stripe raises $600M at nearly $36B valuation
#16I love the quote from John Collison: "This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."
So the question is, will the adoption of these services stick after things return to a more normal state?
Certainly there will be some stickiness, but how much and for whom?
To state the obvious, some adoption will be permanent but others not much. Where that will happen and by how much is a diff question.
Example, will people go back to Starbucks or will they keep on making more coffee at home, maybe get an entry espresso machine?
Re: Stripe raises $600M at nearly $36B valuation
#17I love the quote from John Collison: "This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."
:-). True.
Re: Stripe raises $600M at nearly $36B valuation
#18Re: Stripe raises $600M at nearly $36B valuation
#19Anyone know Stripe's revenue and the multiple this 36B valuation represents?
Re: Stripe raises $600M at nearly $36B valuation
#20I love the quote from John Collison: "This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."
:-). True.
How does stripe plan to navigate through the current economic climate and recession?