Stripe's valuation is being cut once again in fundraising talks, from $55 billion to $50 billion, per The Information.
Why it matters: The company's valuation has continually been sliding lower in negotiations, raising the question of when it will bottom out.
Context: Last valued at $95 billion, Stripe has struggled to prove its worth to investors amid a market downturn and return to in-person life. Growth slowed in 2022, while spending rose.
Earlier this year, Stripe was said to be seeking a valuation of about $60 billion.
Still, some public market investors who spoke to Axios have balked at that figure in light of Stripe's recent unprofitability. Particularly, they have noted that Stripe's closest public comparison, Adyen posted EBITDA profitability last year and is trading at less aggressive multiples.
A representative for Stripe declined to comment.
Bottom line: Stripe's status as a "payments darling" is teetering.
