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April 27, 2021

On the web

Stripe Acquires TaxJar to Add Cloud-based, Automated Sales Tax Tools Into Its Payments Platform


Stripe , the privately-held payments company now valued at $95 billion , has made an acquisition to expand the range of tools (and services) that it provides to online businesses. It has acquired TaxJar , a popular provider of a cloud-based suite of tax services, which can be used to automatically calculate, report and file sales taxes. One key point about TaxJar is that it works across a number of geographies and the many different sales tax regimes that each uses — a complex area for a lot of companies that do business online.”

April 19, 2021

On the wires

Stripe Newsroom: Stripe Issuing Launches in Europe

“Today, Stripe launched Stripe Issuing in Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain, and the UK. Stripe Issuing enables users to create, manage, and distribute virtual and physical payment cards, giving businesses more control over how they spend their money. Whether it be an on-demand delivery marketplace giving couriers cards to pay for orders, or a car rental company providing cards for drivers to purchase petrol, Stripe Issuing puts businesses in complete control of how, where, and when their money is spent.”

April 13, 2021

On the web

How Payment Processor Stripe Became Silicon Valley’s Hottest Startup

Wall Street Journal

“The pandemic threatened to clobber Stripe Inc. Instead, it turbocharged the company. Stripe processes payments for e-commerce companies, keeping a tiny cut of each purchase as a fee for its services. When stay-at-home orders early in the pandemic caused spending to plunge and refund requests to skyrocket, the outlook wasn’t great…Stripe’s revenue last year rose nearly 70%, to about $7.4 billion, according to people with knowledge of the company’s finances. Other startups might have flashier apps or more recognized brands, but Stripe showed that it is better to be a workhorse than a show pony.”

April 6, 2021

On the web

March 29, 2021

On the web

Stripe Invests in Brex Rival Ramp at $1.6 Billion Valuation

The Information

“Ramp, a two-year-old startup that offers corporate cards and software tools for managing employee expenses, is close to finalizing two rounds of funding that will value the company at $1.6 billion, according to three people familiar with the deals. D1 Capital Partners led the first, $65 million round at a $1.1 billion post-money valuation with participation from payments company Stripe and existing investors Coatue Management and Goldman Sachs. Seeking a bigger stake in the company, Stripe is now leading another, $50 million investment in Ramp at the higher post-money valuation of $1.6 billion, two of the people said.”

March 26, 2021

On the wires

Stripe Newsroom: GoFundMe Partners With Stripe to Power Enhanced Fundraising Experiences in North America

“Stripe announced that fundraising platform GoFundMe has deployed its technology to ensure those in need are able to receive donations from those able to support quickly and efficiently. Working with Stripe further simplifies the fundraising experience on GoFundMe by helping to power a smooth donation experience, the swift withdrawal of donations by fundraiser organizers, and advanced trust and safety operations. The economic and social upheaval of the last 12 months has driven an extraordinary amount of need and generosity on the GoFundMe platform. GoFundMe recently announced more than $10 billion has been raised from over 150 million donations for people, causes, and organizations worldwide.”

March 18, 2021

On the web

How Stripe became Silicon Valley’s most prized asset


“Silicon Valley’s most prominent start-ups are normally consumer internet ventures such as Facebook and Uber — aggressive, fast-growing companies on a relentless drive for global domination and the huge brand awareness that goes with it. Yet it is Stripe — a name unfamiliar to most outside the tech industry — that now sits atop the list of Silicon Valley’s most prized private companies after investors valued it at $95bn this week.”

March 12, 2021

On the wires

Stripe Newsroom: Postmates Added $70 Million in Revenue and Saved $3 Million in Network Fees With Stripe

“Postmates ran an A/B test involving Stripe and a leading payments processor. The focus was on authorization rates across credit card networks like Visa, Mastercard, and American Express. During the testing period, Postmates examined the success across both platforms…12 months after selecting Stripe in the A/B test, Postmates has seen an additional 2.16% uplift in authorization rates with Stripe, generating $70+ million in revenue and saved $3.3 million in card network fees.”

March 8, 2021

On the wires

SaaS Giant Atlassian Selects Stripe to Create a Single Platform for Global Billing and Payments Across All of Its Cloud Product Offerings

“Atlassian, a leading provider of team collaboration and productivity software, is partnering with Stripe to simplify and scale its global payments and billing systems for its $1.6 billion in software revenue. Since 2015, Atlassian has acquired several companies to expand its suite of offerings to plan projects, resolve incidents and deploy products. But while Atlassian wanted to build their own billing solution to create a unified purchasing experience across all of their products, they hit a common stumbling block: the project would require allocating engineering resources away from Atlassian’s core products.”

February 26, 2021

On the web

Stripe Is Seeking More Funding As Valuation Takes Off


“Stripe is fundraising for a financing round that values the digital payments company at more than $100 billion, four banking and private-equity executives familiar with the matter said.  It’s unclear exactly how much the San Francisco company is seeking. One banker said Stripe is targeting $1 billion to $1.5 billion, while others pegged the total as closer to $5 billion. Stripe declined to comment.”

February 19, 2021

On the web

Investors Are Now Valuing Stripe At $115 Billion


“Investors are valuing Stripe at a $115 billion valuation in “secondary market” transactions, where shares of a private company’s stock are sold after they were first issued. That valuation is up more than threefold from the $36 billion Stripe fetched when it raised money in April 2020 from venture firms including Andreessen Horowitz, General Catalyst and Sequoia.  Stripe is also planning a new primary funding round at a valuation north of $100 billion, according to a person familiar with the matter. A spokesperson from Stripe declined to comment.”

January 11, 2021

On the web

WSJ News Exclusive | Stripe Stops Processing Payments for Trump Campaign Website

Wall Street Journal

“Stripe Inc. will no longer process payments for President Trump’s campaign website following last week’s riot at the Capitol , according to people familiar with the matter. The financial-technology company handles card payments for millions of online businesses and e-commerce platforms, including Mr. Trump’s campaign website and online fundraising apparatus. Stripe is cutting off the president’s campaign account for violating its policies against encouraging violence, the people said.”

December 24, 2020

On the web

December 3, 2020

Top Post

Stripe launches Stripe Treasury in major expansion of financial services offering for platform partners

“Stripe, the technology company building economic infrastructure for the internet, today announced that it is launching Stripe Treasury. This gives Stripe’s platform users powerful APIs to embed financial services, enabling their customers to easily send, receive and store funds. Shopify is partnering with Stripe and Evolve Bank & Trust to build Shopify Balance, the business account designed to help merchants take control of their finances.”

November 24, 2020

On the web

Payments Startup Stripe Is in Talks to Raise New Funding

Bloomberg (paywall)

“Financial technology startup Stripe Inc. is in talks to raise a new funding round valuing it higher than its last private valuation of $36 billion, according to people familiar with the matter. The valuation being discussed could be more than $70 billion or significantly higher, at as much as $100 billion, according to one of the people, who asked not be identified because the matter is private. Talks are at an early stage and there’s no guarantee the funding round will be completed.”

November 18, 2020

On the wires

Twilio increases its authorization rates by 10% with Stripe

“Twilio ran an A/B test with multiple major global payment processors monitoring authorization rates across card networks like Visa, Mastercard, American Express, Discover, Diners Club, and JCB. The test was set up to randomize routing by examining numerous transaction attributes like card type, card brand, card country, transaction size, and transaction type. After weeks of A/B testing, Twilio selected Stripe. “We were seeing ~10% uplift overall in authorization rates,” said Chris Nasson, Director of Investor Relations & Treasury.”

October 30, 2020

On the web

Stripe moves payment processing to Dublin due to Brexit

Irish Times

Share to Email App Share to LinkedIn Stripe is shifting payment processing for the majority of its European customers to its Irish-regulated entity because of Brexit, the company said on Thursday. The online payments company said processing for all customers outside of the UK and Switzerland will change to Dublin-based Stripe Technology Europe Limited, instead of Stripe Payments UK Limited as of November 19th. “We are making this change to ensure Brexit has no effect on your use of Stripe’s services. The only difference you may notice is that when you receive payouts from Stripe, the statement descriptor on your bank account statement may refer to STEL,”? the company said.”

September 28, 2020

On the web

September 23, 2020

On the wires

Stripe Named Leader by Forrester, Strikes Global Commerce Partnership with Salesforce

“Today Stripe announced that it was named a Leader in the Forrester Wave™ report on Global Merchant Payments Providers, Q3 2020, achieving the highest scores by any ranked company in both strategy and current offering. Concurrently, CRM giant Salesforce announced that Stripe will power Commerce Cloud Payments. With this partnership, Salesforce joins hundreds of enterprises already using Stripe to scale and adapt. Among these, Stripe now counts more than 40 category leaders—companies processing more than $1 billion annually—as customers.”

August 4, 2020

On the wires

Jobber Partners With Stripe to Activate Financing and Instant Payouts for Home Service Businesses

“Jobber, a leading provider of home service management software, today announced an expanded partnership with technology platform Stripe to offer flexible financing and instant payouts to its customers in North America. Jobber is deploying Stripe Capital to make it easier for home service providers to access the capital they need to invest in their businesses and grow. In addition, Jobber’s customers have access to instant payouts, powered by Stripe and Visa Direct, Visa’s real-time push payments platform, to receive the funds they’ve earned within seconds.”

July 24, 2020

On the wires

Notarize, Stripe Keep Notaries Working From Home – Remotely and Safely

“Today, we announced a new partnership with leading payments platform Stripe to empower notaries with the ability to work online and receive almost instantaneous payment for the notarizations they have completed. By integrating with Stripe Connect, a platform that powers marketplaces by accepting payments from customers and paying out to service providers, Notarize can pay notaries on the same day they perform notarization services.”

June 29, 2020

On the wires

Stripe Launches Products to Support Platforms Powering the Economic Recovery

“Now, platforms powered by Stripe have access to an enhanced toolkit to help their own customers adapt to a fast-changing economic environment. By giving customers more control over their subscriptions and more options to pay with international bank debits, platforms can use Stripe’s infrastructure both to improve their end-customers’ experience and increase their own bottom line.”

June 16, 2020

On the web

May 27, 2020

On the wires

Stripe Launches in Five More European Countries

“Stripe, a global technology company that builds economic infrastructure for the internet, today announced its official launch in the Czech Republic, Romania, Bulgaria, Cyprus, and Malta. Europe is home to some of the largest and fastest-growing online economies in the world. This growth is even increased by the accelerated shift from offline to online that the COVID-19 crisis has brought with it, making the need for financial infrastructure and accessibility more apparent than ever. Stripe’s availability now enables more European entrepreneurs and businesses to start accepting payments online from around the world in a matter of minutes.”

May 7, 2020

On the wires

Stripe Newsroom: QuadPay Builds New Installment Model With Stripe Issuing

“QuadPay, the payment installment platform, is partnering with Stripe to power advanced buy-now-pay-later experiences that boost conversion and let consumers start shopping instantly both online and in-store. Built on Stripe’s issuing infrastructure, QuadPay enables consumers to start shopping in installments anywhere Visa is accepted and powers buy-now-pay-later experiences that boost sales by more than 20% on average.”

April 23, 2020

On the web

Stripe adds card issuing, localized card networks and expanded approvals tool


“At a time when more transactions than ever are happening online, payments behemoth Stripe is announcing three new features to continue expanding its reach. The company today announced that it will now offer card issuing services directly to businesses to let them in turn make credit cards for customers tailored to specific purposes. Alongside that, it’s going to expand the number of accepted local, large card networks to cut down some of the steps it takes to make transactions in international markets. And finally, it’s launching a “revenue optimization” feature that essentially will use Stripe’s AI algorithms to reassess and approve more flagged transactions that might have otherwise been rejected in the past.”

April 16, 2020

On the wires

Stripe Newsroom: Stripe Extends Series G Funding Round

“While the full economic impact of COVID-19 remains uncertain, several years of offline-to-online migration are being compressed into several weeks. The current disruption underscores the need for reliable, easy-to-use infrastructure for internet businesses. In this context, Stripe’s mission—to grow the GDP of the internet—means providing an on-ramp to the digital economy for businesses around the world. The rate of new businesses going live on Stripe has accelerated since the start of the year.”

December 13, 2019

On the web

Stripe Is Trying to Rewire the Internet’s Attention Economy


“Forget unicorns—Stripe is the fintech world’s $35 billion gorilla. Nine years after it was founded, Stripe’s software has become the payment plumbing for e-commerce giants like Amazon, as well as tiny startups in more than 120 countries. The San Francisco-based company straightens out the byzantine payment and financial networks around the globe, giving developers and entrepreneurs a system they can swiftly plug into to start accepting and sending money, said Matt Henderson, Stripe’s Dublin-based lead for Europe, the Middle East, and Africa.”

October 28, 2019

On the web

Payment Startup Stripe Moves into Cash-Heavy Mexico After CoDi


“Mobile payment startup Stripe Inc. began operations in Mexico, three weeks after after the launch of a similar central bank-backed system aimed at boosting the amount of digital payments used in the nation’s cash-heavy economy.    Stripe, used by companies including Uber Technologies Inc., touts a key difference between it and CoDi, as Banxico-backed cobro digital is known: Its users can make and take payments worldwide. Distrust of established banks in Mexico is high, and remains one of the key obstacles to widespread CoDi adoption.”

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