Stripe prepares for IPO launch

Irish online payment company Stripe is reportedly preparing for a stock market debut after appointing a law firm to investigate a listing.According to an Reuters report, the company founded in 2011 by brothers John and Patrick Collison has hired a law firm Cleary Gottlieb Steen & Hamilton.

Neither Cleary Gottlieb nor Stripe have commented on the speculation, but it is believed preparations are still at a very early stage and an IPO is unlikely to take place this year. It has also been reported that Stripe would be seeking an immediate listing rather than an IPO.

Stripe has secured financing through the private markets. Its latest fundraising round in March valued the company at $95 billion, making it the most valuable privately held company in Silicon Valley. Early investors in the company included Tesla CEO Elon Musk, early Facebook investor Peter Thiel and Google Ventures.

The FinTech currently operates in 42 countries around the world and its payment infrastructure is used by Deliveroo, Doctolib, Glofox, Klarna, ManoMano, N26, UiPath and Vinted.

2021 was an active year for payment companies IPOs; US payments start in March marqueta reached a valuation of $15 billion after its initial public offering. Money transfer company wise launched the most prominent direct listing in UK history when it was listed on the London Stock Exchange at a valuation of 8 billion.

Recently, IBS Intelligence reported that Stripe, a provider of economic infrastructure for the Internet, announced the launch of Stripe Identity, which provides Internet companies with an easy way to securely verify the identities of users from more than 30 countries.

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