FinTech: Stripe Shareholders Sold $1B Shares Last Month (WSJ); Company Launches ID Tool

https://dailyalts.com/wp-content/uploads/2021/06/Identity_social_card_-_visual.jpg

According to the Wall Street Journal, the company ran a tender offer for existing shareholders to sell their stakes.

Major investors last month snapped up $1 billion worth of shares from existing shareholders in Stripe in a tender offer that received as much as $4 billion in bids according to the WSJ. (Silicon Republic)

The marquee investors who participated in the transaction included Shopify, Sequoia Capital, Silver Lake, and Capital Group; some raised their existing holdings further.

According to the WSJ, those employees who joined Stripe around the time the startup was founded in 2010 may have sold into the tender for fear that their stock options may expire.

Meanwhile, large funds and investors with sizable holdings in Stripe could be anticipating a huge windfall from a potential IPO by the company. According to rumors, the giant fintech could finally bite the IPO bullet in 2022.

In March, Stripe became the most valuable startup in Silicon Valley when it raised a humongous $600 million at a valuation of $95 billion. That valuation had tripled in less than a year.

New offering: Stripe Identity

Stripe launched this week a tool that will assist Internet businesses with securely verifying the identities of their clients from more than 30 different countries.

The tool is expected to curb fraud, account hijacking, and other such malpractices.

It will also help businesses ensure that they are compliant with age and KYC guidelines.

“With Stripe Identity, we’re making our advanced compliance infrastructure available to all of our users,” said Delia Pawelke, Head, Global Risk Strategy and Onboarding Policy. “For an online business, verifying someone’s identity is now as easy as accepting a payment.”

Related Story:  Stripe Raises $600M; Triples Valuation To $95B In Less Than A Year

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/07/home-page-section-app.jpg
FinTech: UK-Based BNPL Player Zilch Closes Series B With Additional $110M
July 23, 2021     FinTech, News

The $110 million comprised both debt and equity capital. Zilch, the UK-based BNPL platform has raised an additional $110 million from Goldman Sachs and DMG Ventures. The funding is part…

https://dailyalts.com/wp-content/uploads/2021/07/dollar-2387088_640.jpg
Alternative Investments/Hedge Funds: Inflation Fears Boost Hedge Funds’ AUM To Nearly $4T
July 23, 2021     Alternative Investments, Hedge Funds, News

A market survey by alternatives technology provider Vidrio Financial shows that fears of inflation have helped move substantial fund allocations during the first half of 2021 to alternative assets such…

https://dailyalts.com/wp-content/uploads/2021/07/bitcoin-6251865_640.jpg
Alternative Investments/Digital: Global X Throws Its Hat In The Bitcoin ETF Ring

Global X, the New York-based ETF provider and subsidiary of $560 billion investment manager Mirae Asset, has filed with the SEC for permission to launch a bitcoin ETF titled the…

https://dailyalts.com/wp-content/uploads/2021/07/bitcoin-4011305_640.jpg
Digital Assets: Crypto Adoption Stories From JPMorgan, Gallup Poll, Bitcoin Depot, And UBS
July 23, 2021     Digital Assets, News

Four news bites that show cryptos are hanging on, recent crashes notwithstanding. From bitcoin ATMs to crypto FOMO, here goes….