Tech

Stripe valuation falls to $74bn after it cuts internal share price

Payments processor reportedly marks down its internal share price to $29 per share, versus $40 previously, slicing $21 billion off its value

Stripe founders John and Patrick Collison: The Wall Street Journal said the company had revalued the internal share price to $29 per share, as against $40 previously. Picture: Bloomberg

Stripe has cut the internal share price of its shares bringing the valuation of the company down to $74 billion, a reduction of $21 billion, according to reports.

The Wall Street Journal on Thursday said the company had revalued the internal share price to $29 per share, as against $40 previously.

According to the report, which quotes people familiar with the matter, the payments processor told employees of the markdown in an email on Friday ...