The Intelligence from The Economist Earning them: Stripe’s monster valuation
Mar 16, 2021
Mathieu Favas, a finance correspondent for The Economist, discusses the staggering rise of Stripe, valued at $95 billion, positioning it as a leader in online payment processing. He highlights the fierce competition in the digital payments sector. Rosemary Ward, the New York correspondent, elaborates on the political turmoil surrounding Governor Andrew Cuomo, facing numerous allegations and challenges to his administration. The podcast also touches on the unexpected surge in cosmetic surgery trends in Afghanistan amidst the backdrop of conflict.
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Stripe's Valuation
- Stripe, valued at $95 billion, is Silicon Valley's most valuable private company.
- It handles online payments for businesses and has expanded into other financial services.
Stripe's Function
- Stripe offers an online payment system for businesses to integrate into websites and apps.
- Customers use it for various purchases, though it may seem simple.
Stripe's Growth
- Though seemingly simple, Stripe's system processed 5,000 requests per second in 2020.
- It has added 200,000 European companies and partnered with major banks.