Crypto-friendly Stripe weighs public offering: Report
Internet payment processor Stripe is reportedly eyeing a public offering and has set a 12-month timeline to explore the possibility.Stripe has hired Goldman Sachs and JPMorgan Chase to advise on the feasibility and timing of a public-market debut, according to a Jan.
26 report by The Wall Street Journal. A source with knowledge of the matter told the Journal that Stripe's executives will either take the company public or allow employees to sell shares in a private transaction.
The Journal also reported that Stripe’s management is unlikely to pursue a traditional initial public offering because the company doesn’t need to raise additional capital.
Rather, the company is more likely to pursue a direct listing. In such a scenario, Stripe would place existing shares on a public stock exchange and let the market decide the price.Founded in 2009 by Irish entrepreneurs John and Patric Collison, Stripe provides payment processing solutions for several major internet companies, including Shopify and Instacart.
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