Company:Stripe (company)

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Stripe is an American technology company based in San Francisco, California.[1] Its software allows individuals and businesses to make and receive payments over the Internet.

History

Irish entrepreneurs John and Patrick Collison founded Stripe in 2010.[2][3] In June 2010, Stripe received seed funding from Y Combinator, a start-up accelerator.[4] In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz.[5] In February 2012, Stripe received an $18 million Series A investment, led by Sequoia Capital at a $100 million valuation.[6][7] Stripe launched publicly in September 2011 after an extensive private beta.[8] Less than a year after its public launch, Stripe received a $20 million Series B investment.[9] In March 2013, Stripe acquired chat and task-management application Kick-off.[10]

In 2016, Stripe was valued at over $9 billion when it raised a $150 million round.[11] In its next funding round in September 2018, Stripe received a $20 billion valuation while raising $245 million.[12]

In 2019, Stripe raised an additional $100 million in a Series E round[13] from investment firm Tiger Global Management, boosting the payment startup's valuation to $22.5 billion.[14] Currently, Stripe is operating across four engineering hubs in Seattle, Dublin, San Francisco and Singapore. [15]

In September 2019, Stripe raised $250 million in a new funding round to take its enterprise value to $35 billion.[16]

Funding History
Date Funding Type Number of Investors Money Raised Lead Investor Valuation
Aug 2, 2010 Seed Round 1 -- Y Combinator --
Mar 28, 2011 Seed Round 4 $2M -- --
Feb 9, 2012 Series A 1 $18M Sequoia Capital $100M
Jul 9, 2012 Series B 9 $20M General Catalyst --
Jan 22, 2014 Series C 4 $80M Founders Fund $1.75B
Dec 2, 2014 Series C 7 $70M Thrive Capital $3.5B
Jul 31, 2015 Series C 7 $100M -- --
Nov 25, 2016 Series D 3 $150M CapitalG, General Catalyst $9B
Sep 27, 2018 Series E 5 $245M Tiger Global Management $20B
Jan 29, 2019 Series F 1 $100M Tiger Global Management $22.5B
Sep 19, 2019 Series G 3+ $250M Sequoia Capital, General Catalyst and Andreessen Horowitz $35B

Products and services

Stripe provides the technical, fraud prevention, and banking infrastructure required to operate online payment systems.[17]

Payment logistics

Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications.[18] In April 2018, the company released anti-fraud tools that run alongside payment APIs to block fraudulent transactions.[19]

The company expanded its services to include a billing product for online businesses. The new service operates within the Stripe platform, allowing businesses to manage subscription recurring revenue and invoicing.[20]

Atlas

On February 24, 2016, the company launched the Atlas platform that allows startups to incorporate more easily in the U.S. The platform originally launched as invite-only.[21] In March 2016, Cuba was added to the list of countries covered under the program.[22] Atlas was relaunched with improvements the following year. As of April 2017, Atlas had signed more than 200 international startups.[23] As of March 2019, startups from 120 countries have used Stripe Atlas to start their business.[24]

On April 30, 2018, the company announced an expansion to Atlas. The upgrades to Atlas included the ability to be used to set up Delaware-based limited liability companies.[25]

Issuing

In July 2018, Stripe began a platform for companies to issue Mastercard and Visa credit cards, available in private beta.[26]

Terminal

On September 17, 2018, Stripe announced a new point of sale solution called Terminal, initially launched as an invite-only beta. The service offers physical credit card readers designed to work with Stripe.[27] Stripe currently works with two card readers: Verifone P400 and BBPOS Chipper 2X BT.[28] Terminal also includes detailed documentation along with SDKs for iOS, Javascript, and one for Android is in development.[29] On June 11, 2019, Stripe made Terminal available to all U.S. users, ending the product’s beta testing phase.[30][31]

Sorbet

In June 2019, Stripe launched a Sorbet, an open source type checker for Ruby.[32]

CLI

On November 5, 2019, Stripe announced the launch of the Stripe command-line interface (CLI). Stripe's CLI is a way to interact with Stripe from the terminal and makes it easier to build, test, and manage integrations.[33]

Investments

Stripe is reported to have participated in two funding rounds for Monzo, a “challenger” bank based in the U.K. Stripe's first investment in Monzo was reported on November 6, 2017,[34] with a second investment in Monzo’s Series E fundraising round reported on October 10, 2018.[35] Monzo’s valuation grew from approximately $350 million[34] to $1.27 billion[35] through these two rounds of fundraising. Stripe participated in a third round of funding for Monzo on June 24, 2019, which raised approximately $144 million in funding for Monzo at a valuation of approximately $2.5 billion,[36][37] producing valuation growth of more than 600% between Stripe's initial investment in Monzo and its 2019 investment.

On August 28, 2018, TechCrunch reported that Stripe was leading the Series A fundraising round for Nigerian payment-processing company Paystack. The report noted this as an “interesting twist,” as Paystack is called “Stripe-like” and is reported to offer similar functionalities as Stripe’s.[38]

On October 8, 2018, Stripe reportedly participated in a $14 million Series A fundraising round for Lambda School, an online software and coding school.[39]

On February 13,2019, Stripe co-led — with Stripe investor General Catalyst — a $40 million Series B fundraising round for Rapyd, a “fintech as a service” startup.[40]

On April 17, 2019, Stripe participated in a $40 million Series B fundraising round for Pilot, which provides cloud-based accounting automation services powered by artificial intelligence.[41]

On June 6, 2019, Stripe led a $22.5 million fundraising round for Step, a financial services startup offering fee-free money management (banking) accounts to teenagers.[42]

On September 25, 2019, Stripe participated in the $2.7 million seed funding round for the Philippine-based payment processing company PayMongo.[43]

See also

References

  1. "Inside Stripe, The PayPal Competitor Backed By PayPal Founders Peter Thiel, Elon Musk". http://www.fastcompany.com/1813087/inside-stripe-paypal-competitor-backed-paypal-founders-peter-thiel-elon-musk. 
  2. "The Collison Brothers and Story Behind The Founding Of Stripe". Startup Grind. February 9, 2012. Archived from the original on April 7, 2014. https://web.archive.org/web/20140407071804/http://startupgrind.com/2012/02/true-startup-story-the-collison-brothers-and-stripe-com/. Retrieved April 2, 2014. 
  3. Brockman, Greg (April 2, 2014). "How Did Stripe Come Up With Its Name?". Forbes. https://www.forbes.com/sites/quora/2014/04/02/how-did-stripe-come-up-with-its-name/. Retrieved April 2, 2014. 
  4. "Stripe Press resources". http://stripe.com/press. 
  5. Arrington, Michael (March 28, 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders". TechCrunch. https://techcrunch.com/2011/03/28/stealth-payment-startup-stripe-paypal/. Retrieved February 14, 2014. 
  6. Mitroff, Sarah (9 February 2012). "Stripe attracts $18M in funding at $100M valuation". VentureBeat. https://venturebeat.com/2012/02/09/stripe-funding-valuation/. Retrieved 14 February 2014. 
  7. Warnimont, Joe (4 April 2018). "Stripe Review: Payment Processor with Advanced Development and Clear Pricing". Ecommerce Platforms. https://ecommerce-platforms.com/ecommerce-reviews/stripe-review. Retrieved 4 May 2018. 
  8. "Stripe: instant payment processing for developers". Hacker News. 29 September 2011. https://news.ycombinator.com/item?id=3053883. Retrieved 14 February 2014. 
  9. Tsotsis, Alexia (9 July 2012). "Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More". TechCrunch. https://techcrunch.com/2012/07/09/payments-startup-stripe-swipes-20m-from-general-catalyst-sequoia-thiel-and-more/. Retrieved 14 February 2014. 
  10. Rao, Leena. "Payments Company Stripe Makes First Acquisition, Buys Team Task Management And Collaboration App Kickoff". TechCrunch. https://techcrunch.com/2013/03/11/payments-company-stripe-acquires-team-task-management-and-collaboration-app-kickoff/. Retrieved 16 January 2014. 
  11. "Stripe expands its Atlas startup kit to let founders form LLCs – TechCrunch" (in en-US). https://techcrunch.com/2018/04/30/stripe-expands-its-atlas-startup-kit-let-founders-form-llcs/. 
  12. Vance, Ashlee (September 26, 2018). "Payment Startup Stripe Is Now a $20 Billion Company". https://www.bloomberg.com/news/articles/2018-09-26/payment-startup-stripe-is-now-a-20-billion-company?srnd=technology-vp. 
  13. Fuscaldo, Donna. "Stripe Now Has A Valuation Of $35 Billion" (in en). https://www.forbes.com/sites/donnafuscaldo/2019/09/19/stripe-now-has-a-pre-money-valuation-of-35-billion/. 
  14. Rooney, Ryan Browne,Kate (2019-01-30). "Stripe rides the online payments boom to a $22.5 billion valuation" (in en). https://www.cnbc.com/2019/01/30/stripe-raises-100-million-from-tiger-global-at-22point5-billion-valuation.html. 
  15. Kim, Jay. "Now Worth $22.5 Billion, Stripe Is Ready To Tackle The Next Wave Of Online Commerce In Asia" (in en). https://www.forbes.com/sites/kimjay/2019/08/01/now-worth-us20bn-stripe-is-well-positioned-to-tackle-the-next-wave-of-online-commerce-in-asia/. 
  16. "Stripe funding round – US online payments company rakes in $250m" (in en-GB). 2019-09-21. https://www.business-news-today.com/stripe-funding-round-online-payments-company/. 
  17. Levy, Ari (7 May 2015). "The start-up that's out to conquer global payments". CNBC. https://www.cnbc.com/id/102655071. Retrieved 23 April 2018. 
  18. Carr, Austin (February 1, 2012). "Inside Stripe, The Paypal Competitor Backed By Paypal Founders Peter Thiel, Elon Musk". FastCompany. http://www.fastcompany.com/1813087/inside-stripe-paypal-competitor-backed-paypal-founders-peter-thiel-elon-musk. Retrieved April 2, 2014. 
  19. Lunden, Ingrid. "Stripe debuts Radar anti-fraud AI tools for big businesses, says it has halted $4B in fraud to date" (in en-US). https://techcrunch.com/2018/04/18/stripe-debuts-radar-anti-fraud-ai-tools-for-big-businesses-says-it-has-halted-4b-in-fraud-to-date/. 
  20. "Stripe launches a new billing tool to tap demand from online businesses" (in en-US). https://techcrunch.com/2018/04/05/stripe-launches-a-new-billing-tool-to-tap-demand-from-online-businesses/. 
  21. "Stripe Expands Startup Tools With Atlas, For Foreign Companies To Incorporate In Delaware – TechCrunch" (in en-US). https://beta.techcrunch.com/2016/02/24/stripe-expands-startup-tools-with-atlas-a-way-for-global-companies-to-incorporate-in-delaware/. 
  22. "Stripe’s startup toolkit Atlas opens for business in Cuba – TechCrunch" (in en-US). https://techcrunch.com/2016/03/18/stripes-startup-toolkit-atlas-opens-for-business-in-cuba/. 
  23. "Stripe Opens Up Atlas for U.S. Startups" (in en-US). Bank Innovation. 2017-04-06. https://bankinnovation.net/2017/04/stripe-opens-up-atlas-for-u-s-startups/. 
  24. "Atlas Overview | Stripe Atlas" (in en). https://stripe.com/docs/atlas. 
  25. https://stripe.com/blog/atlas-llc
  26. Verhage, Julie; Huet, Ellen (26 July 2018). "Stripe Starts Issuing Credit Cards". Bloomberg News. https://www.bloomberg.com/news/articles/2018-07-26/stripe-starts-issuing-credit-cards. 
  27. "Stripe Terminal" (in en). https://stripe.com/blog/terminal. 
  28. "Stripe Terminal Readers" (in en). https://stripe.com/docs/terminal/readers. 
  29. "Stripe Terminal Overview (Docs)" (in en). https://stripe.com/docs/terminal. 
  30. "Stripe Makes Terminal Available Across The US" (in en-US). 2019-06-11. https://www.pymnts.com/news/point-of-sale/2019/stripe-terminal-us/. 
  31. "Stripe Terminal is now generally available in the US" (in en). https://stripe.com/blog/terminal-in-person-payments. 
  32. "Sorbet is now open source" (in en). https://stripe.com/blog/sorbet. 
  33. "Stripe CLI" (in en). https://stripe.com/en-my/blog/stripe-cli. 
  34. 34.0 34.1 "Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz" (in en-US). http://social.techcrunch.com/2017/11/06/monzo-moolah/. 
  35. 35.0 35.1 "Monzo, the UK challenger bank, raises £85M Series E at a £1B pre-money valuation" (in en-US). http://social.techcrunch.com/2018/10/30/monzocorn/. 
  36. Cook, James (2019-06-25). "Monzo's valuation hits £2bn as the digital bank raises £113m in fresh funding" (in en-GB). The Telegraph. ISSN 0307-1235. https://www.telegraph.co.uk/technology/2019/06/24/monzos-valuation-hits-2bn-digital-bank-raises-113m-fresh-funding/. 
  37. "Monzo, the UK challenger bank, raises £113M Series F led by YC’s Continuity fund at a £2B post-money valuation" (in en-US). http://social.techcrunch.com/2019/06/24/monzo-series-f/. 
  38. "Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself" (in en-US). http://social.techcrunch.com/2018/08/28/paystack-with-ambitions-to-become-the-stripe-of-africa-raises-8m-from-visa-tencent-and-stripe-itself/. 
  39. "Lambda School Raises $14M to Grow Coding School Offerings - EdSurge News" (in en). 2018-10-08. https://www.edsurge.com/news/2018-10-08-lambda-school-raises-14m-to-grow-coding-school-offerings. 
  40. "Rapyd nabs $40M led by Stripe and GC for ‘fintech as a service,’ a single API for payments, money transfer and more" (in en-US). http://social.techcrunch.com/2019/02/13/rapyd-nabs-40m-led-by-stripe-and-gc-for-fintech-as-a-service-a-single-api-for-payments-money-transfer-and-more/. 
  41. "Stripe Backs $40 Million Investment in A.I. Accounting Startup Pilot" (in en). http://fortune.com/2019/04/17/pilot-software/. 
  42. "Step raises $22.5 million to help teens manage their money" (in en-US). 2019-06-06. https://venturebeat.com/2019/06/06/step-raises-22-5-million-to-help-teens-manage-their-money/. 
  43. "Manila-based payments processing startup PayMongo raises $2.7 million in seed funding" (in en-US). http://social.techcrunch.com/2019/09/25/manila-based-payments-processing-startup-paymongo-raises-2-7-million-in-seed-funding/. 

External links

https://en.wikipedia.org/wiki/Stripe (company) was the original source. Read more.