Yahoo Finance Stripe Co-Founder Expects Another Employee Stock Tender Offer
(Bloomberg) -- Stripe Inc. expects to again let employees cash out some of their shares, the fintech’s co-founder said, reiterating that the company is in no rush for an initial public offering.
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Stripe, which helps online and brick-and-mortar merchants process customer payments, will probably again turn to investors and the firm’s own coffers for an employee tender offer — which would be its third, John Collison said in an interview with David Rubenstein for an upcoming episode of Bloomberg Television’s “The David Rubenstein Show: Peer to Peer Conversations.”
“We did that last year, we did that this year, and we’ll probably do it again in the future,” Collison said.
Stripe, founded by John and his brother Patrick in 2009, was valued at $65 billion after the latest share deal in February. The firm’s payments volume topped $1 trillion last year, growth that’s continued beyond the levels seen when many consumers turned to online shopping during the pandemic.
Fintech veterans such as Stripe, Plaid Inc. and Chime Financial Inc. are closely watched for when and how they may go public. But unlike Plaid and Chime, which have teased that those deals may be on the horizon, Stripe has eschewed such talk. Collison said in the interview that many companies make the decision to go public too early.
“We still see tons of opportunity to change and grow the business quite a lot,” he said. Instead of focusing on that one transaction, Collison said he remains focused on products.
For the full interview with Collison, watch the season 10 premiere of “The David Rubenstein Show: Peer to Peer Conversations” on Bloomberg Television Sept. 18 at 9:00 p.m. in New York.
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