News · Jun 13, 2021
Investors Clamor for a Bigger Piece of Payments Company Stripe
Stripe runs a ~$1B tender offer; Shopify, Sequoia Capital among the buyers at a ~$95B valuation.
Original source: The Wall Street JournalBy TenderOffer.co Editorial
Summary
Stripe ran a tender offer in mid-2021 in which Shopify, Sequoia Capital, Capital Group, and Silver Lake bought approximately $1 billion of shares from existing shareholders including current and former employees, per the Wall Street Journal.
What was reported
- Reported size filled: ~$1 billion (vs. >$4B in bids)
- Implied valuation: ~$95 billion (Stripe’s then-most-recent primary round mark)
- Buyers: Capital Group, Sequoia Capital, Shopify, Silver Lake
- Eligibility: existing shareholders, including current and former employees
Why it matters
Stripe’s 2021 tender at $95B set the high-water mark that subsequent down-rounds adjusted from. The 4x-oversubscribed bid book also illustrated the depth of investor demand at the peak of the 2021 cycle.
Auto-extracted from public reporting via TenderOffer.co’s editorial pipeline. Read the original at the source link above.
Sources
- Investors Clamor for a Bigger Piece of Payments Company Stripe — The Wall Street Journal (2021-06-14)