The new internal valuation at Stripe is said to be $63 billion.

The Information reported that Stripe has chopped its internal valuation by about 11% to $63 billion. This is known as a 409a valuation and is not decided by investors looking to fund the company. A lower internal price may be beneficial to employees by lowering their cost of equity held in the company. This latest price is now $24.71. (Bloomberg)

Stripe is a highly valued fintech startup, and was valued at $95 billion following a $600 million funding round in 2021.

However, the company cut its internal valuation by 28% in June 2022 and again in October to $27.73, amounting a 40% reduction over six months.

In November, the fintech laid off 14% of its employees citing “a different economic climate,” and “leaner times.”

“We overhired for the world we’re in … and it pains us to be unable to deliver the experience that we hoped that those impacted would have at Stripe,” the founders wrote in a blog announcing the layoffs.

Related Story:  Stripe Slashes Internal Company Valuation By 28% From $40 Per Share To $29

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