Stripe (company)

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Stripe, Inc.
Stripe Logo, revised 2016.svg
Type of businessPrivate
FoundedSeptember 29, 2011; 7 years ago (2011-09-29)
HeadquartersSan Francisco, California
Area servedAustralia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Japan, Hong Kong, Luxembourg, Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, United Kingdom, United States

Public beta Italy, Portugal

Private beta Brazil, Mexico, India
Founder(s)Patrick Collison
John Collison
CEOPatrick Collison
IndustryPayment processor
ServicesPayments
Subscriptions
Connect
Sigma
Relay
Atlas
Radar (fraud prevention)
Issuing
Terminal
Employees1500+[1] (February 2019)
Websitestripe.com
Current statusActive

Stripe is a technology company based in San Francisco, California.[2] Its software allows individuals and businesses to make and receive payments over the Internet. Stripe provides the technical, fraud prevention, and banking infrastructure required to operate online payment systems.[3]

History[edit]

Irish entrepreneurs John and Patrick Collison founded Stripe in 2010.[4][5] In June 2010, Stripe received seed funding from Y Combinator, a start-up accelerator.[6] In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz.[7] In February 2012, Stripe received an $18 million Series A investment led by Sequoia Capital at a $100 million valuation.[8][9] Stripe launched publicly in September 2011 after an extensive private beta.[10] Less than a year after its public launch, Stripe received a $20 million Series B investment.[11] In March 2013, Stripe acquired chat and task-management application Kick-off.[12]

In 2016, Stripe was valued at over $9 billion when it raised a $150 million round.[13] In its next funding round in September 2018, Stripe received a $20 billion valuation while raising $245 million.[14]

Funding History
Date Funding Type Number of Investors Money Raised Lead Investor Valuation
Aug 2, 2010 Seed Round 1 -- Y Combinator --
Mar 28, 2011 Seed Round 4 $2M -- $100M
Feb 9, 2012 Series A 1 $18M Sequoia Capital --
Jul 9, 2012 Series B 9 $20M General Catalyst --
Jan 22, 2014 Series C 4 $80M Founders Fund $1.75B
Dec 2, 2014 Series C 7 $70M Thrive Capital $3.5B
Jul 31, 2015 Series C 7 $100M -- --
Nov 25, 2016 Series D 3 $150M CapitalG, General Catalyst $9B
Sep 27, 2018 Series E 5 $245M Tiger Global Management $20B
Jan 29, 2019 Series E 1 $100M Tiger Global Management $22.5B

Product and service development[edit]

Payment logistics[edit]

Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications.[15][4] In April 2018, the company released anti-fraud tools that run alongside payment APIs to block fraudulent transactions.[16]

The company expanded its services to include a billing product for online businesses. The new service operates within the Stripe platform, allowing businesses to manage subscription recurring revenue and invoicing.[17]

Atlas[edit]

On February 24, 2016 the company launched the Atlas platform that allows startups to incorporate more easily in the U.S. The platform originally launched as invite-only.[18] In March 2016, Cuba was added to the list of countries covered under the program.[19] Atlas was relaunched with improvements the following year. As of April 2017, Atlas had signed more than 200 international startups.[20] As of March 2019 startups from 120 countries have used Stripe Atlas to start their business.[21]

On April 30, 2018 the company announced an expansion to Atlas. The upgrades to Atlas included the ability to be used to set up Delaware-based limited liability companies.[22]

Issuing[edit]

In July 2018, Stripe began a platform for companies to issue Mastercard and Visa credit cards, available in private beta.[23]

Terminal[edit]

On September 17, 2018 Stripe announced a new point of sale solution called Terminal, initially launched as an invite-only beta. The service offers physical credit card readers designed to work with Stripe.[24] Terminal also includes detailed documentation along with SDKs for iOS, Javascript, and one for Android is in development.[25]

See also[edit]

References[edit]

  1. ^ "Stripe: About page". stripe.com.
  2. ^ "Inside Stripe, The PayPal Competitor Backed By PayPal Founders Peter Thiel, Elon Musk".
  3. ^ Levy, Ari (7 May 2015). "The start-up that's out to conquer global payments". CNBC. Retrieved 23 April 2018.
  4. ^ a b "The Collison Brothers and Story Behind The Founding Of Stripe". Startup Grind. February 9, 2012. Archived from the original on April 7, 2014. Retrieved April 2, 2014.
  5. ^ Brockman, Greg (April 2, 2014). "How Did Stripe Come Up With Its Name?". Forbes. Retrieved April 2, 2014.
  6. ^ "Stripe Press resources".
  7. ^ Arrington, Michael (March 28, 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders". TechCrunch. Retrieved February 14, 2014.
  8. ^ Mitroff, Sarah (9 February 2012). "Stripe attracts $18M in funding at $100M valuation". VentureBeat. Retrieved 14 February 2014.
  9. ^ Warnimont, Joe (4 April 2018). "Stripe Review: Payment Processor with Advanced Development and Clear Pricing". Ecommerce Platforms. Retrieved 4 May 2018.
  10. ^ "Stripe: instant payment processing for developers". Hacker News. 29 September 2011. Retrieved 14 February 2014.
  11. ^ Tsotsis, Alexia (9 July 2012). "Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More". TechCrunch. Retrieved 14 February 2014.
  12. ^ Rao, Leena. "Payments Company Stripe Makes First Acquisition, Buys Team Task Management And Collaboration App Kickoff". TechCrunch. Retrieved 16 January 2014.
  13. ^ "Stripe expands its Atlas startup kit to let founders form LLCs – TechCrunch". techcrunch.com. Retrieved 2018-05-01.
  14. ^ Vance, Ashlee (September 26, 2018). "Payment Startup Stripe Is Now a $20 Billion Company". www.bloomberg.com. Retrieved 2018-09-27.
  15. ^ Carr, Austin (February 1, 2012). "Inside Stripe, The Paypal Competitor Backed By Paypal Founders Peter Thiel, Elon Musk". FastCompany. Retrieved April 2, 2014.
  16. ^ Lunden, Ingrid. "Stripe debuts Radar anti-fraud AI tools for big businesses, says it has halted $4B in fraud to date". techcrunch.com. Retrieved 2018-04-18.
  17. ^ "Stripe launches a new billing tool to tap demand from online businesses". techcrunch.com. Retrieved 2018-04-26.
  18. ^ "Stripe Expands Startup Tools With Atlas, For Foreign Companies To Incorporate In Delaware – TechCrunch". beta.techcrunch.com. Retrieved 2018-05-01.
  19. ^ "Stripe's startup toolkit Atlas opens for business in Cuba – TechCrunch". techcrunch.com. Retrieved 2018-05-01.
  20. ^ "Stripe Opens Up Atlas for U.S. Startups". Bank Innovation. 2017-04-06. Retrieved 2018-05-01.
  21. ^ "Atlas Overview | Stripe Atlas". stripe.com. Retrieved 2019-03-27.
  22. ^ https://stripe.com/blog/atlas-llc
  23. ^ Verhage, Julie; Huet, Ellen (26 July 2018). "Stripe Starts Issuing Credit Cards". Bloomberg News. Retrieved 28 July 2018.
  24. ^ "Stripe Terminal". stripe.com. Retrieved 2018-11-20.
  25. ^ "Stripe Terminal Overview (Docs)". stripe.com. Retrieved 2018-11-20.

External links[edit]