Fintech startup Stripe wants to go public in the next year, according to the Wall Street Journal. “People familiar with the matter” said that co-founders Patrick and John Collison recently told the employees that “the executives had set a goal of either taking the company public or allowing employees to sell shares in a private-market transaction within the next 12 months”.

Stripe has also reportedly hired Goldman Sachs and JP Morgan to help evaluate next steps.

It is also being reported that Stripe has approached investors about raising more capital, at least $2bn, with a company valuation of $55bn to $60bn.

Stripe made the headlines in 2021 for capital raising at the highest-ever valuation for a privately held startup. Then, the company raised $600m at a $95bn valuation.

Setbacks

On January 23, Stripe announced it was strengthening its decade-long relationship with Amazon with a new global agreement. Stripe would become a strategic payments partner for Amazon in the US, Europe, and Canada.

Despite being a global service used by millions, the company has faced big setbacks in the last year, and slashed its internal valuation more than once. Earlier this month, TechCrunch reported that Stripe had cut its internal valuation by 11% to $63bn. That came after another 28% internal valuation cut six months earlier.

In November 2022, the company also laid off 14% of its staff, around 1,120 people. Then, the CEO Patrick Collison said: “Our business is fundamentally well-positioned to weather harsh circumstances. […] However, we do need to match the pace of our investments with the realities around us.

“We overhired for the world we’re in.”

Stripe has not commented on the recent events.