Stripe considered buying crypto payments company Ripple in 2013
Payments company Stripe had been in talks to acquire crypto startup Ripple back in 2013, Ripple board member Asheesh Birla wrote in a Twitter post announcing his new position.
Why it matters: This blast from the past comes as Stripe is once again exploring crypto as a payments method.
Driving the news: "Ultimately the deal fell apart shortly after this dinner at El Tepa Taqueria in SF," he wrote, sharing a photo of Ripple's team with Stripe CEO Patrick Collison. "But who knows what crypto would look like today if Stripe had gotten into the industry in 2013."
Flashback: This was a very young Stripe and Ripple having acquisition talks. The 3-year-old Stripe had disclosed only about $40 million in total funding, with a valuation of up to half a billion dollars, per TechCrunch.
- Ripple was even newer to the world, having been founded only in 2012 and having gathered a couple million in funding from Andreessen Horowitz, Lightspeed Venture Partners and others.
Now: Stripe is valued at $95 billion and Ripple at $15 billion.
Of note: Although that deal with Stripe and Ripple didn't pass, at least some of the parties involved did eventually come to their own agreements.
- Stripe would back Stellar — a non-profit payments network founded by Ripple co-founder Jed McCaleb— in 2014. McCaleb is pictured next to Collison in Birla's 2013 photo.