Stripe slashes valuation to $50 billion in new $6.5 billion funding round

Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the company said Wednesday, a sharp discount from its record valuation of $95 billion in 2021.

“Stripe does not need this capital to run its business,” the company said in a press release. The cash raise — with contributions from Andreessen Horowitz, Founders Fund, Goldman Sachs, and Temasek — will instead go towards providing liquidity to “current and former employees” and tax obligations associated with equity awards.

Read more: CNBC