According to reports, Stripe, a company that processes online payments, is considering going public within the next 12 months.
According to an article published by The Wall Street Journal on January 26th, Stripe has retained the services of Goldman Sachs and JPMorgan Chase to advise on the viability and timing of a public-market launch. If Stripe doesn’t go public or enable employees to sell shares in a private deal, an insider told the Journal, the company’s executives will.
Since Stripe doesn’t require additional funding, the company’s management is reportedly not interested in a typical initial public offering. Instead, the business is likely to go the direct listing route. Assuming this were to happen, Stripe would list its current stock on a public exchange and let the market determine the price.
Stripes Journey in the Crypto World:
Stripe is a payment processing solution provider established in 2009 by Irish businessmen John and Patric Collison. Stripe’s clients include several of the most prominent internet companies, such as Shopify and Instacart. In 2021, the business successfully raised $600 million at a valuation of $95.00 billion. Investors in the company included the National Treasury Management Agency of Ireland, Fidelity Investments, and the insurance companies Allianz and AXA.
Since at least 2014, Stripe’s relationship with digital assets has been a roller coaster ride full of ups and downs. In 2015, the business announced it would support Bitcoin, enabling customers to transfer and receive digital currency like traditional currencies. After three years of operation, the Bitcoin payment services offered by Stripe will be discontinued in 2018. The company’s founders have stated that they believe bitcoin is better suited as an asset than a method of exchange.
During the cryptocurrency boom of 2021, the company returned to the market with a fresh concentration on developing blockchain-based payment systems. The year after, Stripe announced that it would enable fiat currency payments for cryptocurrencies and non-fungible tokens. Thanks to new application programming interfaces, businesses can now utilize Stripe to accept payments in fiat currency for cryptocurrencies.
Previously in 2021, Stripe also launched a new payout program that would allow selecting content providers to withdraw earnings denominated in USD Coin.
Now with its consistent efforts to make a prominent place in the Web3 world by becoming the next generation of payments, as stated by Cointelegraph in a tweet, Stripe has certainly come a long way.