In honor of St. Patrick's Day, we decided there was no better time to have a look at a company with distinctly Irish roots. Stripe was founded by Irish brothers John and Patrick Collision in 2010 and has been captivating would-be investors since.
But today, there's one huge question still to be answered...
The payments giant was valued at $95 billion following its last funding round in March 2021, but reports from Forbes have suggested that the actual value is closer to $115 billion. This represents value growth of 250% on the low end in just a year -- not too shabby.
Speculation was rife all throughout last year of an impending public debut, but 2021 came and went without any movement from Stripe. Now, the IPO market has all but dried up with inflation fears and widespread volatility forcing companies to rethink listing. There were 1,035 IPOs launched in the U.S last year alone -- so far this year, we've seen less than 80.
Last year, Stripe lawyered up in preparation for its public debut. The payment solutions leader hired law firm Cleary Gottlieb Steen & Hamilton, who specialize in the due diligence required to help a company go public. Things have remained muted since, with Stripe notably tight-lipped about any impending debut.
A direct listing is likely, as Stripe is in the enviable position of not needing to use an IPO to raise capital. This allows it to avoid much of the volatility associated with an IPO -- something that could be extremely important given the current market situation.
With reported 2020 revenue of $7.4 billion, a war chest of available cash, and investors clawing at the gates to snag a piece of the world's second most valuable unicorn -- a public debut just can't come quick enough.
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