Stripe said it had raised $694.2 million in the tender offer it had announced in February, when it agreed to let employees sell some of their shares in a deal that valued the fintech giant at $65 billion, according to Reuters.
The deal, which gave Stripe a 30% higher valuation than last year, marked a rare bright spot in an otherwise subdued venture capital market, where investors spooked by high interest rates have been cautious despite expectations of a soft landing for the economy.
Stripe will use the funds to provide liquidity to its employees. Stock-based payouts typically comprise a big chunk of the compensation for startup employees, who have no way of converting their shares into cash unless their employer files for an IPO or buys back their shares.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
