Payment processing giant Stripe announced Tuesday that its company value has reached $159 billion through a new employee and shareholder stock offering, representing a dramatic increase of over 70% compared to the company’s worth from a similar stock sale just one year ago.
The financial technology company’s co-founders, brothers John Collison and Patrick Collison, highlighted their firm’s strong financial performance in their yearly shareholder communication. “Stripe remained robustly profitable, allowing us to continue investing heavily in product development as well as acquisitions,” the Collison brothers stated.
The majority of money for this stock purchase program will come from investment firms such as Thrive Capital, Coatue and Andreessen Horowitz, according to the company. Stripe also plans to use some of its own available funds to purchase shares back from current holders.
