Stripe (company)

For other uses, see Stripe (disambiguation).
Stripe
Founded September 29, 2011 (2011-09-29)
Area served

Australia, Canada, Denmark, Finland, France, Ireland, Japan, Norway, Singapore, Spain, Sweden, United Kingdom, United States
Public beta Austria, Belgium, Germany, Hong Kong, Italy, Luxembourg, Netherlands, Portugal

Private beta Brazil, Mexico, New Zealand, Switzerland
Founder(s) Patrick Collison
John Collison
CEO Patrick Collison
Industry Payment processor
Services Payments
Subscriptions
Connect
Relay
Atlas
Radar (fraud prevention)
Employees 547 (March, 2016) [1]
Website stripe.com
Current status Active

Stripe is an Irish technology company,[2] operating in over 25 countries, that allows both private individuals and businesses to accept payments over the Internet. Stripe focuses on providing the technical, fraud prevention, and banking infrastructure required to operate online payment systems.[3]

Payment logistics

Using Stripe, web developers can integrate payment processing into their websites without having to register and maintain a merchant account.[4] Stripe has a two-day waiting period for initial transactions, during which time it profiles the businesses involved to protect against potential fraud. Stripe then transfers the funds directly into the bank account linked to the payee.[5]

History

Irish entrepreneurs John and Patrick Collison founded Stripe in 2010.[5] Stripe began as a startup called /dev/payments. The name resulted in misspellings and confusion to those outside the company, so the company renamed itself Stripe.[6] In June 2010, Stripe received seed funding from Y Combinator, a startup accelerator.[7] In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz.[8] In February 2012, Stripe received an $18 million Series A investment led by Sequoia Capital at a $100 million valuation.[9] Stripe launched publicly in September 2011 after an extensive private beta.[10] Less than a year after its public launch, Stripe received a $20 million Series B investment from General Catalyst, Sequoia Capital, Peter Thiel, Redpoint Ventures, Chris Dixon, and Aaron Levie.[11] In March, 2013, Stripe acquired chat and task-management application Kickoff.[12]

In March 2014, CEO Patrick Collison announced that Stripe would support bitcoin transactions.[13] In January 2015, Stripe introduced a machine learning based fraud detection system.[14]

In 2016, Stripe was ranked #4 on the Forbes Cloud 100 list.[15]

See also

References

  1. ↑ "Stripe: Press resources". stripe.com.
  2. ↑ "Inside Stripe, The PayPal Competitor Backed By PayPal Founders Peter Thiel, Elon Musk".
  3. ↑ "Stripe". CNBC.
  4. ↑ Carr, Austin (February 1, 2012). "Inside Stripe, The Paypal Competitor Backed By Paypal Founders Peter Thiel, Elon Musk". FastCompany. Retrieved April 2, 2014.
  5. 1 2 "The Collison Brothers and Story Behind The Founding Of Stripe". Startup Grind. February 9, 2012. Retrieved April 2, 2014.
  6. ↑ Brockman, Greg (April 2, 2014). "How Did Stripe Come Up With Its Name?". Forbes. Retrieved April 2, 2014.
  7. ↑ "Stripe Press resources".
  8. ↑ Arrington, Michael (March 28, 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders". TechCrunch. Retrieved February 14, 2014.
  9. ↑ Mitroff, Sarah (February 9, 2012). "Stripe attracts $18M in funding at $100M valuation". VentureBeat. Retrieved February 14, 2014.
  10. ↑ "Stripe: instant payment processing for developers". Hacker News. September 29, 2011. Retrieved February 14, 2014.
  11. ↑ Tsotsis, Alexia (July 9, 2012). "Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More". TechCrunch. Retrieved February 14, 2014.
  12. ↑ Rao, Leena. "Payments Company Stripe Makes First Acquisition, Buys Team Task Management And Collaboration App Kickoff". TechCrunch. Retrieved 16 January 2014.
  13. ↑ Del Rey, Jason (March 27, 2014). "Stripe Merchants Will Soon Be Able to Accept Bitcoin Payments". Recode. Retrieved April 2, 2014.
  14. ↑ Reader, Ruth (January 14, 2015). "Stripe invites merchants to help improve its machine-learning fraud detection system". Recode. Retrieved June 19, 2016.
  15. ↑ "Forbes Cloud 100". Forbes. Retrieved 28 October 2016.
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