FT News Briefing Stripe valuation soars to $95bn, businesses in the pandemic, private data use in the pandemic
Mar 15, 2021
Stripe has reached a staggering valuation of $95 billion, solidifying its position as a leading payments provider. The pandemic sparked an entrepreneurial surge, with over 4.4 million new businesses launched in the U.S. Innovations in data use during the crisis highlight how trust affects public health measures, particularly in countries like South Korea. The discussion further emphasizes the importance of navigating technological changes and creating effective frameworks to manage their societal impact.
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Stripe's Soaring Valuation
- Stripe, founded by two Irish brothers, has become Silicon Valley's most valuable private company.
- Its valuation tripled in under a year, surpassing pre-IPO Facebook and Uber.
Pandemic Entrepreneurship Boom
- The pandemic spurred a surge in new business creation, with nearly 4.5 million new businesses started since March 2020.
- This suggests a silver lining to the pandemic's economic disruption.
Molly Zive's Therapy Business
- Molly Zive, after working at an insurance agency, started her own therapy business during the pandemic.
- She saw the risk but felt the worst-case scenario was returning to her unsatisfying job.