Stripe Tells Staffers Internal Valuation Dropped More Than 27%
- Startup said to be valued at $29 a share now, down from $40
- Shares of peers PayPal, Block, Adyen have all fallen this year
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Stripe Inc., one of the world’s most-valuable startups, told staffers that an internal valuation for the company has dropped as the firm’s publicly traded peers continue to face plummeting valuations.
The South San Francisco-based firm told employees the share price it was given in Stripe’s most recent 409A valuation -- an independent appraisal of the value of a private company’s common stock -- was about $29, according to a person familiar with the matter. That’s down more than 27% from the $40 price Stripe had previously received, the person said.