Payment giant Stripe announced that it has completed a $6.5 billion Series I financing with a valuation of $50 billion, with participation from a16z, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, Thrive Capital, GIC, Goldman Sachs, Temasek, etc. Goldman Sachs served as the exclusive placement agent for this transaction, and JPMorgan Chase served as financial advisor.

The valuation of this financing is about 47% lower than the high valuation of $95 billion in 2021. Stripe said that this round of financing will be used to provide liquidity for former and current employees and resolve employee withholding tax obligations related to equity incentives. Stripe does not need this money to operate its business. (Planet Daily)