The_King Posted March 17, 2023 Share Posted March 17, 2023 SINGAPORE -- Singaporean state-owned investors GIC and Temasek Holdings joined the latest $6.5 billion fundraising by Stripe, one of fintech's largest startups, at a valuation almost half of what it was at its peak. The fund will allow the payment processing giant to cover billions of dollars of tax liability faced by some of its earliest employees so they can exercise options and cash out stakes in the company that would have otherwise expired in the coming months. The San Francisco- and Dublin-headquartered company stressed it "does not need this capital to run its business." The round valued Stripe at around $50 billion, the company said on Wednesday in the U.S., down from $95 billion in 2021. Other investors include existing shareholders like U.S. venture capital firm Andreessen Horowitz, Scotland-based Baillie Gifford and Peter Thiel's Founders Fund, according to the company. GIC and Temasek, some of the world's largest state-owned investors, have been investing more heavily in tech startups operating in and outside Asia, where the pace of digitization is rapidly increasing. The Singaporean investors' stake in Stripe was not disclosed. GIC did not respond to a request for comment. Temasek confirmed its investment but did not provide further details. Founded in 2010, Stripe began processing payments for startups and e-commerce companies looking to handle multiple payment methods such as credit cards, bank transfers and digital wallets. In an interview with Nikkei Asia last year, Stripe CEO Patrick Collison described how growth in Asian markets "will be a critical pillar." Collison said that the company was "cash-flow positive" and added, "[w]e don't need to raise primary capital." In Southeast Asia, the company entered Singapore in 2016, then Malaysia and Thailand last year. Stripe partners with Singapore-based superapp operator Grab in the city-state and Malaysia, processing GrabPay users' online payments. The region's digital payments market in 2030 is expected to hit $2 trillion by transaction value, up threefold from a decade earlier, according to a Google-led study of six regional economies. Stripe's clients include e-commerce giants like Amazon and Canada's Shopify. The company has been focusing on large enterprises, with Japan's Toyota Motor and All Nippon Airways becoming some of its latest users in Asia. Stripe's business accelerated in 2020 and 2021 thanks to the e-commerce sector's pandemic-fueled growth but the expansion slowed last year as economies reopened and recessionary pressures emerged. In November, the company laid off about 14% of its staff as operating costs proliferated. There had been anticipation that the company would go public as early as 2021. Instead, tech's initial public offering market came to a halt late that year and has yet to regain its pace. In January, it was reported that Stripe will make a decision on going public within the next year. 1 1 Link to comment Share on other sites More sharing options...
Huat Zai Posted March 17, 2023 Share Posted March 17, 2023 1 1 Official Mugentech Minecraft server: Please see thread in Gamers Link to comment Share on other sites More sharing options...
socrates469bc Posted March 18, 2023 Share Posted March 18, 2023 20 hours ago, The_King said: SINGAPORE -- Singaporean state-owned investors GIC and Temasek Holdings joined the latest $6.5 billion fundraising by Stripe, one of fintech's largest startups, at a valuation almost half of what it was at its peak. song bo, kumgong pappy serfs??????? ur smlj president scholars never learn meh???????? wahahahahahahahahahahhahahaha 1 Link to comment Share on other sites More sharing options...
Huat Zai Posted March 18, 2023 Share Posted March 18, 2023 3 hours ago, socrates469bc said: ur smlj president scholars never learn meh???????? If they are capable of learning anything still called president scholars meh?????????? 1 Official Mugentech Minecraft server: Please see thread in Gamers Link to comment Share on other sites More sharing options...
socrates469bc Posted March 19, 2023 Share Posted March 19, 2023 11 hours ago, Huat Zai said: If they are capable of learning anything still called president scholars meh?????????? if a bui bui can be ca in saf, then anyone can be president scholar liao. wahahahahahahahahahaha 1 Link to comment Share on other sites More sharing options...
Huat Zai Posted March 19, 2023 Share Posted March 19, 2023 (edited) 7 minutes ago, socrates469bc said: if a bui bui can be ca in saf, then anyone can be president scholar liao. wahahahahahahahahahaha You don't cheese pie later take umbrage then you know Edited March 19, 2023 by Huat Zai 1 Official Mugentech Minecraft server: Please see thread in Gamers Link to comment Share on other sites More sharing options...
Homelander Posted March 19, 2023 Share Posted March 19, 2023 Their founders are so young...if join saf will be generals liao 1 Link to comment Share on other sites More sharing options...
XianGe Posted March 19, 2023 Share Posted March 19, 2023 Buy high sell low 1 Link to comment Share on other sites More sharing options...
socrates469bc Posted March 19, 2023 Share Posted March 19, 2023 6 hours ago, Homelander said: Their founders are so young...if join saf will be generals liao most likely arrested by bee kok zheng hu in the next 3 yrs. 2 Link to comment Share on other sites More sharing options...
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