Stripe co-founder says the $95 billion fintech giant is very happy staying private
Summary
Online payments giant Stripe is still in no rush to go public, with co-founder John Collison telling CNBC the company is happy staying private for now. Collison said the firm has plans to expand across the Persian Gulf, which includes countries like the United Arab Emirates, Qatar and Saudi Arabia. Stripe already has clients from $7.5 billion food delivery firm Deliveroo to a small gymwear brand called Squatwolf using it to process payments in the region, he added. The fintech company was last valued at a whopping $95 billion, making it worth more than Uber ahead of the ride-hailing firms initial public offering. Founded by Irish brothers Patrick and John Collison in 2009, Stripe has grown from tech upstart to a payments powerhouse processing billions of dollars in transactions each year for the likes of Amazon, Google and Deliveroo.
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