Stripe
Stripe is a technology company that provides financial infrastructure for businesses of all sizes. It was founded in 2010 by brothers Patrick Collison and John Collison, aiming to simplify online payments for developers and businesses. Here are some key points about Stripe:
History
- Founded: 2010 by Patrick and John Collison in San Francisco, California.
- Early Funding: Initially self-funded, Stripe raised its first venture capital in 2011, securing $2 million from Y Combinator, Sequoia Capital, and Peter Thiel.
- Expansion: Over the years, Stripe has expanded its offerings beyond basic payment processing to include tools for subscription management, invoicing, tax calculation, and more. It has grown into a global payments platform.
- Notable Acquisitions: Stripe has made several acquisitions to enhance its services, including Checkout in 2018 to improve its payment processing capabilities.
Services
- Payment Processing: Stripe allows businesses to accept payments online, in-person, and through mobile devices. It supports numerous payment methods, including credit cards, bank debits, and digital wallets.
- Connect: A platform for marketplaces and platforms to manage payments between multiple parties.
- Billing: Subscription management, recurring billing, and metered billing for subscription-based businesses.
- Atlas: Helps entrepreneurs start an online business by simplifying the process of setting up a company and bank account.
- Radar: Uses machine learning to detect and prevent fraud in real-time.
- Issuing: A service that allows businesses to create and manage their own virtual and physical payment cards.
Technology and Innovation
- Stripe has been at the forefront of using machine learning and artificial intelligence for fraud detection and payment optimization.
- It has developed an API-first approach, making integration into various systems seamless for developers.
- Stripe Terminal was launched to provide hardware and software for in-person payments, expanding its footprint in physical retail.
Financials and Growth
- As of recent years, Stripe has been valued at over $95 billion, making it one of the most valuable private companies in the tech industry.
- It processes billions of dollars in transactions annually and supports millions of businesses worldwide.
Regulatory and Compliance
- Stripe adheres to various international compliance standards, including PCI DSS, GDPR, and others related to financial transactions.
External Links
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