Stripe was founded in 2010 by Irish brothers; Patrick and John Collison and has become the most valuable US startup. Stripe is a digital payment platform, a giant in its right as it has earned the title. The payment platform’s value has risen to a whopping figure of $95 billion after it capitalized on the boom in e-commerce (caused by the coronavirus disease and the lockdowns that ensued) with a round in fundraising. The startup has now dethroned SpaceX owned by Elon Musk, the world’s richest man, to become the startup with the most value in all of the United States. Stripe has its headquarters in San Francisco and Dublin and is one of the biggest payment platforms in the world.
The payment platform is used by over 50 global companies to process payments. These companies such as e-taxi service; Uber, Google, Amazon, Zoom, Maersk, JustEat, and a host of others process payments that run into at least $1 billion annually. Dhivya Suryadevara, the Chief Financial Officer of Stripe in a statement said that, ‘The pandemic taught us so many things about society, including how much can be achieved- and paid for-online’, that ‘while Stripe already processes hundreds of billions of dollars per year for millions of businesses worldwide, the opportunity ahead is much larger than it was when the company was started 10 years ago’.
Experts and investors have given positive comments and forecasts regarding Stripe. Allianz X said it saw ‘an astounding growth potential’ in the payment company. Elan Gil, who is one of Stripe’s investors, and participated in the Series A financing round in 2012, said that he believed that Stripe would grow to become ‘a multi billion dollar company’ in little or no time. Elad Gil who has shown strong support for other startups in the past told Reuters that, ‘I don’t think it ends here. I think there is still a lot of runway ahead of the company in terms of growth, market capitalization and impact because it powers such a fundamental piece of the modern technology infrastructure.
You can also check out the story of African startup; Flutterwave attaining unicorn status by clicking here.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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