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Stripe raises $600M at nearly $36B valuation

(www.axios.com)
721 points hhs | 1 comments | 16 Apr 20 14:35 UTC | HN request time: 0.001s | source
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kashura ◴[16 Apr 20 15:29 UTC] No.22890397[source]▶
If they are so successful, why do they need to continuously raise money?
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SpicyLemonZest ◴[16 Apr 20 15:31 UTC] No.22890425[source]▶
Because they're aiming to be even more successful. $36B is still a tenth of Visa, and I think Stripe believes they can eventually become an equally important part of the financial ecosystem.
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adrr ◴[16 Apr 20 15:59 UTC] No.22890713[source]▶
It’s larger than Adyen who has a arguably a better platform and bigger customers like eBay and Microsoft. Stripe has Shopify but with their misstep of not refunding processing fees on returns, that’s going away quickly as merchants pressure Shopify.
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SpicyLemonZest ◴[16 Apr 20 16:30 UTC] No.22891034[source]▶
Stripe's forward looking goals seem to be mostly about expanding and changing the nature of online commerce, rather than capturing the existing payment processing market. I agree it'd be dumb for them to expect to grow based solely on stealing customers from existing processors.
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1. adrr ◴[16 Apr 20 16:58 UTC] No.22891321[source]▶
Can you expand on changing the nature of online commerce? I don't see that they are in any position to do so. P2P payments is dominated by Venmo/Paypal, mobile is going to be Apple Pay/Google Pay. Their best chance was partnering with Shopify which is the second largest e-commerce site/platform by GMV. With that position, they could go after affirm/after pay on the consumer lending side of things. I assume Shopify will do this soon since they already offer merchant lending.

They can go after the PaymentTechs and Worldpays of the world but that is just a race to the bottom on processing fees. Another problem with going after those companies, they can easily drop the processing fees to near zero since PaymentTech is owned by Chase and Worldpay by Vantiv/FIS. Adyen is going to dominate the omnichannel retailers since their solution is best.