Stripe has set a 12-month deadline to go public, with the help of Goldman Sachs and JP Morgan to determine the best course of action, as it navigates the uncertain public market activity in the tech world.
Stripe, the fintech payments giant, has set a 12-month deadline for itself to go public, either through a direct listing or a transaction in the private market with the help of Goldman Sachs and JP Morgan to evaluate the best course of action. Last valued at $95 billion, the company, founded in 2010 by Irish brothers John and Patrick Collison, saw a revenue of $12 billion and was EBITDA profitable in 2021, according to Forbes. Stripe has reportedly cut its internal valuation to $63 billion and laid off 14% of its staff in November due to the global downturn. The company is looking to navigate the uncertain public market activity in the tech world and determine if it has missed its window to go public or if it will start a trend for other tech behemoths.
Full Story: HERE (TechCrunch)
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