Payments giant Stripe slashes its valuation by 28% to $74 billion

People familiar with the matter revealed that the payment giant Stripe, which was recently given a valuation of US$95 billion (about 638.4 billion yuan) by private investors, lowered the internal value of its stock. 28%.

Stripe told employees in an email on Friday that the internal share price was around $29, compared with its most recent internal valuation of $40.

The move lowered the implied valuation of the shares to $74 billion (about 497.28 billion yuan), which is calculated separately from the shares owned by major shareholders, one of the people said.

According to reports, Stripe said in an email that the board approved a reduction in its internal stock price, effective June 30 . But the company did not explain the reasons for its decision to lower its internal valuation. Last year, Stripe raised $600 million (about 4.032 billion yuan) at a valuation of $95 billion (about 638.4 billion yuan), making it one of the most valuable startups in the United States.

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