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Stripe told employees in an email Friday that the internal share price was about $29, compared with $40 in the most previous internal valuation, known as a 409A valuation. The move lowered the implied valuation of those shares to $74b, which is calculated separately from the stock owned by major shareholders.
Last year, Stripe became one of the most valuable U.S. startups after raising a $600 million round at a $95 billion valuation. But the share prices of publicly traded fintech companies have plummeted in the past few months, making Stripe look overvalued. Payments processor PayPal Holdings Inc., which investors often compare to Stripe, has seen its stock decline by over 60% since January 1.
https://www.wsj.com/articles/stripe-cuts-internal-valuation-by-28-11657815625
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