Thrive has committed $1 billion, which would value the payments provider Stripe at about $55 billion to $60 billion, people with knowledge of the matter said.
Thrive Capital, the investment firm founded by Joshua Kushner, is leading a potential investment in the payments provider Stripe at a valuation of $55 billion to $60 billion, down sharply from two years ago, two people with knowledge of the matter said.
Stripe is aiming to raise roughly $2.5 billion, one of the people said. Thrive has committed $1 billion, said another person familiar with the situation, who requested anonymity because the talks are confidential.
If completed, the funding could give Stripe breathing room amid a tough market for public listings. The money is expected to be used to pay the start-up’s tax liabilities and to allow its employees to sell their company shares. Many privately held tech companies use stock options to help recruit employees, but a faltering market for public offerings has made it difficult for employees to cash out of those shares. Some Stripe employees have stock grants that will start expiring next year if the company does not go public or raise new funding, a person familiar with the situation said.
Stripe’s moves are being scrutinized because it was once the most highly valued private company in the United States. How it responds to an inhospitable market for public offerings could be a harbinger for how others manage it.