Stripe stays private
Stripe continues to delay an IPO while processing about $1.9 trillion in payments annually — founders Patrick and John Collison are keeping one of tech’s biggest potential listings off the public market. That decision reshapes late‑stage tech supply and investor appetite for big payments IPOs (europeanbusinessmagazine.com).
Stripe executed a tender offer in late February 2026 that implied a $159 billion valuation and was funded principally by Thrive Capital, Coatue Management and Andreessen Horowitz while Stripe committed to repurchasing a portion of shares. (stripe.com/newsroom/news/stripe-2025-update) (bloomberg.com/news/articles/2026-02-24/stripe-hits-159-billion-valuation-as-payment-volume-soars) Stripe has repeatedly used secondary tender processes to create employee liquidity; the company’s private-market mark moved from about $65 billion in early 2024 to $91.5 billion in a 2025 secondary, and those deals have reduced near-term pressure on a public listing. (cnbc.com/2025/02/27/stripes-valuation-climbs-to-91point5-billion-in-secondary-stock-sale-.html) Company filings and its 2025 annual letter state Stripe remained profitable in 2025 and reported more than 350 product updates while using operating cash to fund M&A and product development. (stripe.com/newsroom/news/stripe-2025-update) Stripe said its Revenue product suite is on track to reach an approximately $1 billion annual run rate and that its platform directly serves over 5 million businesses, including customers across 90% of the Dow Jones Industrial Average and 80% of the Nasdaq 100. (stripe.com/newsroom/news/stripe-2025-update) The company has moved deeper into crypto and billing tools, acquiring stablecoin orchestration platform Bridge and wallet provider Privy, buying Metronome for usage-based billing, and launching a dedicated blockchain called Tempo to manage stablecoin flows and limit fee spikes. (bloomberg.com/news/articles/2026-02-24/stripe-hits-159-billion-valuation-as-payment-volume-soars) Stripe’s private-market valuation path shows a sharp rebound since 2023: roughly $95 billion at its 2021 peak, roughly $65 billion in early 2024, $91.5 billion in a 2025 secondary, and the $159 billion implied by the February 2026 tender. (cnbc.com/2025/02/27/stripes-valuation-climbs-to-91point5-billion-in-secondary-stock-sale-.html) (bloomberg.com/news/articles/2026-02-24/stripe-hits-159-billion-valuation-as-payment-volume-soars)
