The Stripe rating falls when the investor devalues ​​stocks

A major mutual fund downgraded the value of its Stripe shares by 64 percent over the past year, suggesting the company is now a far cry from its most recent valuation of $95 billion.

T Rowe Price Group announced its reassessment in a regulatory filing, first reported by Bloomberg. Since Stripe, founded by Limerick brothers Patrick and John Collison, is a private company, the filing relates to internal stock held by T Rowe Price as an investor.

The revaluation of the $4 billion U.S. fund came on June 30, at the same time Stripe reportedly cut its own internal stock value from $40 to $29. While Stripe’s stock is not publicly traded and is the subject of rounds of financing and other private funding agreements, the company’s move implies that the value of Silicon Valley’s largest privately held company has fallen to $74 billion.

A Stripe spokesman declined to comment.

Stripe’s revaluation likely means the Irish state has seen a drop in the stake it acquired during Stripe’s last major funding round in 2021 via the National Treasury Management Fund, where it raised $600 million at a valuation of Raised $95 billion.

It comes this year amid a general decline in technology and e-commerce stock prices.

T Rowe Price also cut its own stake in Instacart by 40 percent after another investment group, Capital Group, made a similar downgrade. The combined revaluations suggest that Instacart’s value has fallen from $24 billion to $14.7 billion.

In June, the valuation of Swedish micropayments company Klarna fell by more than 80 percent from $45 billion to $6.7 billion in a funding round.

PayPal’s shares have fallen over 60 percent over the past year, while online shopping giant Amazon has seen its shares fall 30 percent over the past 10 months. Overall, the Nasdaq 100 index is down 30 percent in the first half of this year.

Stripe is currently expanding its Dublin office to over 1,000 employees, having recently made it its joint global headquarters.

Stripe processed over $640 billion in payments in 2021, up 60 percent year-on-year, and the company now has more than 7,000 employees in 23 countries.

The company is one of the most watched global tech companies for a potential IPO. However, in his recent interview with the Irish Independent, John Collison said the company still had no plans to seek a public listing.

https://www.independent.ie/business/technology/stripe-valuation-falls-as-investor-marks-down-shares-41932294.html The Stripe rating falls when the investor devalues ​​stocks

Fry Electronics Team

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