New investors in the round included GIC, Goldman Sachs Asset and Wealth Management and Temasek, and return backers included Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners and Thrive Capital. All proceeds will be used to help Stripe employees cover tax obligations related to the pending expiration of restricted stock units, plus to fund a new stock tender offer for current and former employees. No proceeds will be used to fund Stripe's own tax obligations tied to the RSUs.
Stripe had considered letting employees get liquidity via a public stock offering, but ultimately decided that the private transaction would be faster and give the company more flexibility. The company, which powers online payments for such companies as Amazon and Lyft, was valued a5 $95 billion by venture capitalists in March 2021, up from $35 billion just three months earlier.