Stripe CEO says an IPO is not on the horizon
Make us a preferred source
Make us a preferred source on Google
The news: Patrick Collison, the co-founder of fintech giant Stripe, said on Thursday he has no imminent plans to take the company public.
The context: Stripe had flirted with the idea of an IPO last year, but instead decided on a secondary sale in February.
Stripe is one of the most highly-valued startups in the world, behind only SpaceX, TikTok-owned ByteDance and ChatGPT creator OpenAI.
Yet the company is still rebounding from its post-pandemic fall: It was valued at USD95 billion ($140 billion) in 2021, but that was cut to USD50 billion two years later. Stripe was valued at USD65 billion this February during its secondary sale.
Stripe last January told employees it would either go public or host a secondary sale within 12 months, the Wall Street Journal reported, having hired Goldman Sachs and JPMorgan to advise on the process. It ultimately went the latter route.
What they said: "We're really happy with the current status of the building," Collison said on Thursday when asked by a reporter at a Sydney media event when he would take Stripe public.
"If at some point we think that an IPO can help us build better products for our customers, or more effectively, then we'll consider it. But we're very much optimising for them and not for corporate structure."
The sources: Stripe, WSJ
