Digital payments platform Stripe has confirmed a tender offer, allowing past and present employees to sell their shares to investors at a valuation of $91.5 billion. This move provides a liquidity opportunity for employees while giving investors a chance to increase their stake in the company. Stripe will also repurchase shares as part of the transaction, although the company declined to disclose the identity of the investors involved in the secondary round.

The valuation marks a significant increase from Stripe's last secondary sale a year ago, which was valued at $70 billion. However, it still falls short of the company's high-watermark $95 billion valuation achieved in 2021, during the COVID-19 pandemic-driven e-commerce boom. At the time, Stripe became the most valuable privately-held tech company in the world.

The news coincides with Stripe's annual letter, penned by CEO and co-founder Patrick Collison, which highlighted the company's impressive growth. The payment volume in 2024 reached $1.4 trillion, a 38% increase from the previous year. While this is a notable achievement, it's essential to put it into context. For comparison, Visa reported a payment volume of $13.2 trillion in 2024, underscoring the thin margins Stripe makes on transactions and the need for continued scaling.

Stripe's growth is also evident in its expanding customer base. The company now serves half of the Fortune 100 companies, a significant milestone that showcases its transformation from a startup working with other startups to a major enterprise player. This shift is a testament to Stripe's ability to adapt and cater to the needs of large-scale businesses.

The tender offer was initially reported to be in the works earlier this month. While Stripe has not announced plans to go public, this move provides employees with a liquidity opportunity and gives investors a chance to increase their stake in the company. As Stripe continues to grow and expand its services, this valuation will likely be closely watched by investors and industry observers alike.

The $91.5 billion valuation also underscores Stripe's position as a leader in the digital payments space. The company's ability to process massive payment volumes and cater to the needs of large enterprises has cemented its status as a major player in the fintech industry. As the company continues to evolve and innovate, this valuation will likely be seen as a significant milestone in its journey.