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Pro Rata

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Payments giant Stripe will let current and former employees cash out more of their stock through a $1 billion-plus tender offer announced Wednesday.

Why it matters: Stripe is no longer a 2024 IPO candidate. 

Zoom in: The offer values Stripe at $65 billion, up from $50 billion last year but down from the $95 billion valuation it garnered in a 2021 fundraise. 

Investors in the tender offer reportedly include Sequoia Capital and Goldman Sachs' growth equity fund.

Also investing is Stripe itself. A source says that the company became cash-flow positive last year, thanks in part to a growing enterprise SaaS business, and expects to be cash-flow positive for all of calendar 2024.

Flashback: Stripe offered a similar deal to employees last year, buying more than $6.5 billion worth of stock — although around half of that transaction was used to cover various tax obligations.

Andreessen Horowitz and Temasek were the key investors involved in that deal.

The bottom line: Stripe has long said it's in no hurry to go public, and keeps putting its money where its mouth is.

Stripe now valued at $65 billion, but it isn't going public

Stripe is expected to again push off its IPO plans, at least until 2025.

Illustration of the Stripe logo with the S as a dollar sign.

Fintech

Payments giant Stripe will let current and former employees cash out more of their stock through a $1 billion-plus tender offer <a class="gtmContentClick" data-vars-link-text="announced" data-vars-click-url="https://stripe.com/newsroom/news/employee-liquidity-feb-2024" data-vars-content-id="fa04ce8f-0d1f-4ce5-82c2-18bb7dd51a0d" data-vars-headline="Stripe now valued at $65 billion, but it isn&#x27;t going public" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://stripe.com/newsroom/news/employee-liquidity-feb-2024" target="_blank">announced</a> Wednesday.Why it matters: Stripe is no longer a 2024 IPO candidate.

Stripe now valued at $65 billion, but it isn't going public

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