TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Consortium makes unsolicited bid for state’s 40% stake in Telkom

      12 August 2022

      Actually, solar users should pay more to access the grid – here’s why

      12 August 2022

      Fixing SA’s power crisis is not complex: it simply takes the will to do better

      12 August 2022

      Telkom says MTN talks remain on track

      12 August 2022

      Analysis | Rain muddies the waters with approach to Telkom

      11 August 2022
    • World

      Tencent woes mount, even after $560-billion selloff

      12 August 2022

      Huawei just booked its first sales rise since US blacklisting

      12 August 2022

      Apple remains upbeat about iPhone sales even as Android world suffers

      12 August 2022

      Ether at two-month high as upgrade to blockchain passes major test

      12 August 2022

      Gaming industry’s fortunes fade as pandemic ends

      11 August 2022
    • In-depth

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Fintech»Stripe is making preparations for a blockbuster listing: sources

    Stripe is making preparations for a blockbuster listing: sources

    Fintech By Agency Staff9 July 2021
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Stripe founders John Collison and Patrick Collison

    Digital payments processor Stripe, the most valuable US technology start-up, has taken its first major step towards a stock market debut by hiring a law firm to help with preparations, according to people familiar with the matter.

    The 11-year-old company, which was valued by investors at US$95-billion in a fundraising round in March, has sat out this year’s red-hot market for initial public offerings (IPOs), using private tender offers to allow some of its existing investors and employees to cash out their holdings.

    Remaining private has enabled Stripe to keep such financial details as revenue and profitability under wraps. Yet this has also deprived it of using its shares as a publicly traded currency to help finance acquisitions and to incentivise employees.

    Stripe has tapped Cleary Gottlieb Steen & Hamilton as a legal adviser on its early-stage listing preparations

    Stripe has tapped Cleary Gottlieb Steen & Hamilton as a legal adviser on its early-stage listing preparations, the sources said. There has been no decision on the timing of the stock market debut, and the next step would be the hiring of investment banks later this year, the sources added. The listing would be unlikely to happen this year, two of the sources said.

    Stripe is considering going public through a direct listing, rather than a traditional IPO, because it does not need to raise money, said two of the sources, cautioning that those plans could change. The sources requested anonymity because the deliberations are confidential. Stripe and Cleary Gottlieb declined to comment.

    Breakneck growth

    Founded in 2010 by Irish brothers Patrick and John Collison, Stripe processes hundreds of billions of dollars in transactions every year for millions of businesses worldwide. Its list of clients includes Google, Uber Technologies, Amazon.com and Zoom Video Communications. Early investors include Elon Musk, Peter Thiel and Google’s venture capital arm.

    Stripe’s breakneck growth could result in it challenging Chinese technology giants Ant Group and ByteDance, whose valuations are close to $200-billion, for the title of world’s most valuable start-up by the time it goes public.

    John Collison said in an interview with Bloomberg Television last month that Stripe, which has headquarters in both Dublin and San Francisco, may go public one day but that there were no current plans for a listing.  — Reported by Anirban Sen and Echo Wang, (c) 2021 Reuters

    Listen to TechCentral’s 2018 podcast interview with Stripe co-founder and president John Collison

    John Collison Patrick Collison Stripe top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleSquare to make a hardware wallet for bitcoin
    Next Article Binance booms as crypto trading unfolds beyond the reach of nation states

    Related Posts

    Tencent woes mount, even after $560-billion selloff

    12 August 2022

    Huawei just booked its first sales rise since US blacklisting

    12 August 2022

    Consortium makes unsolicited bid for state’s 40% stake in Telkom

    12 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Get your brand in front of TechCentral’s amazing audience

    12 August 2022

    Pricing Beyond CMYK: printers answer the FAQs

    11 August 2022

    How secure is your cloud?

    10 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.