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Founded more than a decade ago, today Stripe is by far the most valuable private fintech company, with Robinhood trailing at a roughly $11.7 billion valuation after investors wrote the company a $3 billion check amid this year s GameStop chaos.
Stripe has seen eye-popping growth during the pandemic as its revenue is largely tied to growth in online shopping. In its previous funding round last April, Stripe was early to highlight the Covid-19 outbreak as pushing the economy online and said several years of offline-to-online migration are being compressed into several weeks. We re investing in the infrastructure that will power internet commerce in 2030 and beyond, wrote chief financial officer Dhivya Suryadevara, who joined the company in August after moving out of her role as General Motors CFO. The pandemic taught us many things about society, including how much can be achieved and paid for online, but the internet still isn t the engine for global economic progress th