According to Stripe, companies using its platform handled over $1 trillion in transactions in 2023—a 25% increase over the previous year.
According to Stripe, companies using its platform handled over $1 trillion in transactions in 2023—a 25% increase over the previous year.
Fifteen years after the brothers Patrick and John Collison started it, the fintech behemoth has reached a significant milestone.
In its annual letter, Stripe states that it was "robustly" cash flow positive in 2023 and anticipates being so once more in 2024. It further states that "this threshold is important, because it allows us to invest for the long term."
The fintech and investors reached an agreement last month that will allow staff members to cash out their shares in an offering valued at $65 billion, up from $50 billion in 2023 but still far less than the $95 billion it was valued at in 2021.
Stripe emphasizes in its letter that it is now about revenue and finance automation as well as payments, and it anticipates reaching an annual revenue run rate of more than $500 million over the course of the following year.
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