Sequoia Offers to Buy $861M of Stripe Shares at $27.51 Each, Valuing Company at $70B After 14 Years

Jul 15, 2024, 03:51 PM

Sequoia Capital has offered to buy up to $861 million worth of Stripe shares from its investors, valuing the payments giant at $70 billion. The offer is aimed at providing liquidity to investors in funds raised between 2009 and 2011. Sequoia's proposal includes purchasing shares at $27.51 each. This secondary transaction does not involve any new funds going to Stripe. The $861 million represents approximately 10% of Sequoia's total fair market value of Stripe shares. This move highlights Sequoia's long-term investment strategy, as it continues to support Stripe 14 years after its initial investment. The 2009 fund also invested in companies like Airbnb and Unity. Additionally, Stripe has decided not to pursue an IPO.