Stripe Investment Makes Cofounder The World’s Youngest Self-Made Billionaire
The cofounders of Stripe joined the ranks of the world?s youngest billionaires after the online payments company announced a new round of funding last week that valued the company at $9.2 billion.
Brothers Patrick Collison and John Collison are now worth at least $1.1 billion each after San Francisco-based Stripe raised $150 million from CapitalG, an investment division of Google parent company Alphabet, and General Catalyst Partners. With the latest investment, the startup?s valuation almost doubled. In July 2015 a fundraising round had valued the company at $5 billion.
Prior to the latest round, the Collisons owned about 30% of Stripe, according to a source close to the company. Following the $150 million investment, FORBES estimates that each brother owns at least 12% of the company. A spokesperson for Stripe declined to comment on the Collisons? company stakes or net worths.
Read full Article here »