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Stripe is the latest fintech to falter, taking a 28% internal valuation cut

TechCrunch

Stripe is the latest high-profile fintech company to take a massive valuation cut as the market downturn begins to hit the sector especially hard. The Journal reports that the valuation cut comes from a 409A price change, which means that Stripe hasn’t decreased the value of preferred shares sold in the last round.

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Stripe has laid off employees behind TaxJar, a tax compliance startup it acquired last year

TechCrunch

Stripe has laid off some of the employees who support TaxJar, a tax compliance startup that it acquired last year, TechCrunch has learned from multiple sources and firsthand documentation. The layoffs — conducted over the last month — are related to Stripe’s decision to wind down TaxJar-focused go-to-market efforts in late July.

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Report: Stripe tried to raise more funding at a $55B-$60B valuation

TechCrunch

When payments giant Stripe raised $600 million at a $95 billion valuation in 2021, it made headlines for raising capital at the highest-ever valuation for a privately-held startup. The fintech company has reportedly approached investors about raising more capital — at least $2 billion — at a valuation of $55 billion to $60 billion.

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Thrive Capital believed to be leading new multi-billion dollar investment in Stripe

TechCrunch

Thrive Capital has reportedly committed $1 billion in fresh capital to payments giant Stripe as part of a new investment in the works that would value the fintech company at between $55 billion and $60 billion. TechCrunch reported last week that Stripe was seeking to raise $2 billion but the number could actually be closer to $2.5

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What to make of Stripe’s possible $100B valuation

TechCrunch

Normally we’d discuss it, asking ourselves what its gains could mean for the lower tiers of private SaaS companies. Stripe would become the first or second most valuable startup in the world at those prices, depending on how you count. Stripe charges 2.9% Stripe charges 2.9% You can do fun math at this juncture.

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Investing in a More Inclusive Innovation Economy

Revolution

Ultimately, we were so impressed by the finalists’ pitches that Rise of the Rest invested in six of the companies. Rheaply has diverted tens of thousands of lbs of waste from landfills by enabling organizations of all stripes to create sharing economies through its technology solutions.

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Finix becomes a payments processor, heating up its competition with Stripe

TechCrunch

Payments infrastructure startup Finix has slowly been taking swipes at Stripe, first becoming a facilitator, and now becoming a processor. In an unusual twist, Sequoia just one month later walked away from the deal in which it reportedly wrote the self-described payments infrastructure company a $21 million check. Sign up here.

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