Feb 24 (Reuters) – Stripe said on Tuesday a tender offer for employees and shareholders valued the fintech firm at $159 billion, marking a rise of more than 70% from its valuation in a comparable share sale a year ago.
“Stripe remained robustly profitable, allowing us to continue investing heavily in product development as well as acquisitions,” co-founders John Collison and Patrick Collison said in their annual letter.
Stripe said most of the funding for the tender offer would come from investors, including Thrive Capital, Coatue and Andreessen Horowitz, while the company would also use some of its own cash to buy back shares.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi Majumdar)
