Stripe has struck a deal with investors that will enable employees to cash out their shares in an offering that values the payments giant at $65 billion.
The valuation is up from $50 billion at a funding round last March, although still down on the $95 billion it was tagged with in 2021.
Under the deal, Stripe and some of its investors - including Sequoia Capital - will buy more than $1 billion of stock from current and former staffers, according to the Wall Street Journal.
In a statement, Stripe says that investors will provide most of the funds but that it will also use a portion of its own capital to offset dilution from its employee equity compensation programmes.
“We’re pleased to once again offer employees an opportunity for liquidity,” says Steffan Tomlinson, CFO, Stripe.
The agreement could see Stripe's long-touted initial public offering pushed back until at least 2025, says the WSJ.