Payments startup Stripe raises $100 million at a $22 billion valuation

Startups • January 29, 2019, 8:21PM EST
UPDATED: January 29, 2019, 8:36PM EST
The Block

Stripe has raised an additional $100 million from Tiger Global, less than four months after raising $245 million from the same firm, according to The Information. The September funding round increased the company's valuation from $9 billion to $20 billion. This round of funding increases the valuation of Stripe to $22 billion.

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Stripe, founded in September 2011 by brothers Patrick and John Collison, provides an easy way for online businesses to accept payments. Stripe has expressed interest in cryptocurrency in the past, contributing "$3 million to help get [Stellar] going [in 2014.] In return, we received 2% of the stellars." In 2018, however, Stripe dropped support for Bitcoin, which it had supported since 2014.

Stripe is part of a class of developer-first companies such as Shopify, Twilio and SendGrid that made it easy for any company to participate in online commerce and marketing. The company is part of the legendary Y Combinator accelerator which has also produced Silicon Valley giants Airbnb, Dropbox, Coinbase, Cruise and Instacart.

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Mike Dudas is one of the founders of The Block and was the CEO until April 2020 and a board member until April 2021. Prior to starting The Block, Mike was co-founder and CRO of Button, the leading global, mobile performance marketing platform. Mike is a builder of mobile commerce businesses, having worked at Google, Braintree/Venmo and PayPal. Early in his career, Mike worked in corporate M&A and strategy for Disney. Mike earned a BA from Stanford and an MBA from Kellogg.

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