Stripe launches stock buyback as valuation remains at $70 billion
1min read Private fintech giant Stripe Inc. has again bought back some shares at $27.51 each, keeping the company's overall valuation at around $70 billion, the same as earlier this year, according to a document obtained by Bloomberg. The transaction, which could involve billions of dollars of stock, requires eligible shareholders to decide by the end of December, the document said.
Specifically, a document reviewed by Bloomberg revealed details of Stripe's share repurchase. The $27.51 per share price keeps the startup's valuation at about $70 billion, the same as in another stock sale earlier this year. A representative for Stripe declined to comment.
The transaction could involve billions of dollars of stock changing hands, according to people familiar with the matter who asked not to be identified because of the private nature of the information. The document also said that eligible shareholders, including former employees and some existing investors, must decide by the end of December whether to participate.
Notably, the offer from venture capital giant Sequoia Capital this summer further highlighted Stripe's appeal and investment value in the market. However, Stripe, one of the largest startups in the U.S. and a highly anticipated IPO candidate, still insisted that it is not in a hurry to go public.
