Stripe sets one-year timetable for IPO decision


Multi-billion dollar payments player Stripe has set a 12-month deadline to decide whether to go public or let employees sell their stock, according to reports.

The company has hired Goldman Sachs and JPMorgan to advise on a deal that would either see it list directly or let staffers sell shares via a secondary transaction, according to The Information. The firm has scheduled an all-hands meeting for Friday to discuss the situation. Earlier this month, Stripe cut its internal valuation for the third time since last summer, reducing it by another 11% to $63 billion, down from $95 billion at a March 2021 funding round. The company has also laid off more than a thousand employees in recent months. Tech firms have been avoiding IPOs in the current climate but, according to the Information, Stripe may be looking to buck the trend to solve a specific issue. Some of its long-time staffers hold restricted stock that is due to expire, hitting their compensation. However, while the public listing is being explored, sources tell the Information that Stripe is still more likely to go the private route.


By on Thu, 26 Jan 2023 19:46:00 GMT
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