Illustration: Lazaro Gamio/Axios

Have you met the minotaurs? A minotaur — the term was coined by Axios editor-in-chief Nick Johnston — is a venture-backed company that has raised more than $1 billion in equity capital.

Details: We've found 55 of them, of whom 25 are American and 3 are in financial services. The biggest minotaur, by far, is Ant Financial, the Alibaba-backed financial-services giant. It owns Alipay, the enormous mobile payments service; it also owns the world's largest money-market fund.

  • Paytm can be thought of as the Indian version of Ant Financial; it has raised $3.6 billion in equity capital.
  • SoFi, in the US, has raised $1.9 billion, and is branching out rapidly from its core business of refinancing student loans. Its most recent valuation was $4.4 billion.

Stripe, a near minotaur, is also American, although it was started by two Irish brothers. It powers a broad range of online and mobile payments, and was most recently valued at $22.5 billion.

Stripe is worth less than Square, another payments company that went public in 2015 at a valuation of $2.9 billion.

  • Today, Square is worth more than $31 billion, after having raised a total of $778 million in equity capital, per PitchBook. That's $547 million before the IPO, and then another $243 million when it went public, most of which was primary issuance.
  • Stripe has raised around $800 million in private capital. It's not clear how those investors will be able to cash out: Stripe still says it has "no plans" to go public.

Go deeper: Meet the startups that have raised more than $1 billion

Editor's note: this story has been corrected to show that Stripe has about $800 million in equity financing, not $1.05 billion.

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Americans reflect on Independence Day amid racism reckoning

A Black Lives Matter banner and a United States flag on the facade of the U.S. embassy building in Seoul, South Korea. Photo: Simon Shin/SOPA Images/LightRocket via Getty Images

America's leaders are rethinking how they view Independence Day, as the country reckons with the historic, unequal treatment of people of color during a pandemic which has disproportionately affected nonwhite Americans.

Why it matters: The country’s legacy of racism has come into sharp focus in the weeks of protests following the death of George Floyd while in Minneapolis police custody. From Confederate statues to Mount Rushmore, Americans are reexamining the symbols and traditions they elevate and the history behind them.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 11,031,905 — Total deaths: 523,777 — Total recoveries — 5,834,337Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 2,788,395 — Total deaths: 129,306 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
12 hours ago - Sports

Washington Redskins to review team name amid public pressure

Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.