Stripe is preparing to IPO and go public.
Stripe’s top management has enlisted the law firm Cleary Gottlieb Steen & Hamilton to prepare for an IPO. According to Reuters, the startup is not planning a traditional IPO because it does not need the money. The shares will be floated through a direct listing.
The timing of the IPO has not yet been determined. Most likely it will take place next year. By the end of the year, investment banks will be preparing Stripe for the IPO. Consequently, it will be able to enter the stock exchange no earlier than 2022.
Stripe is currently considered Silicon Valley’s most expensive project, especially after a round of fundraising in March of this year, when the company was valued at $95 billion.
For comparison – the company Facebook, before the IPO held in 2012, valued at $ 15 billion, and one of the giants of the stock market, the company SpaceX, valued at 74 billion,
Major investors include mutual fund giant Capital Group Cos., venture capital firm Sequoia Capital, e-commerce company Shopify Inc. and buyout firm Silver Lake.
Right now Silicon Valley is flooded with investors looking for new places to put their money, in part because low interest rates have made some traditional investments unattractive. Interest in Stripe is fueled, in part, by the fact that it has been boosted by the online shopping boom caused by the coronavirus epidemic.
Stripe was founded by the Collison brothers. The companies use a service owned by the startup to accept online payments. It deducts a commission fee from each transaction. Partners of the startup include Amazon, Zoom, Alphabet, Uber, and others.