Illustration: Eniola Odetunde/Axios

Digital payments platform Stripe has raised $600 million in new funding and is now valued at nearly $36 billion, co-founder and president John Collison tells Axios.

Why it matters: Venture capitalists remain willing and able to invest big dollars in select companies, despite concerns that some limited partners could struggle to meet capital calls.

This is an extension to Stripe's Series G round, which closed last fall on $250 million, and came together in just the past few weeks. Most of the participants are existing investors.

  • Stripe was widely viewed as a 2019 IPO candidate. When that didn't happen, a 2020 IPO candidate. But Collison and his CEO brother Patrick have steadfastly refused to publicly comment on their timeline (except to say "not anytime soon").

Between the lines: Stripe also may be one of the few companies to be somewhat benefiting from lockdowns, given its focus on e-commerce enablement.

  • Existing clients include Instacart, DoorDash, Postmates, and Caviar. It also recently added Zoom.
  • Collison says that businesses that joined Stripe since March 1 have generated nearly $1 billion in revenue already.
  • "This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."

Go deeper: Stripe becomes the third-highest-valued U.S. startup

Go deeper

The silver linings of online school

Illustration: Annelise Capossela/Axios

Online learning can be frustrating for students, teachers and parents, but some methods are working.

The big picture: Just as companies are using this era of telework to try new things, some principals, teachers and education startups are treating remote learning as a period of experimentation, too.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:45 p.m. ET: 19,282,972 — Total deaths: 718,851 — Total recoveries — 11,671,491Map.
  2. U.S.: Total confirmed cases as of 9:45 p.m. ET: 4,937,441 — Total deaths: 161,248 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Warren and Clinton to speak on same night of Democratic convention

(Photos: Abdulhamid Hosbas/Anadolu Agency via Getty Images, Sean Rayford/Getty Images)

Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.

Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.