Stripe nearly halves valuation to $50b following $6.5b raise

Stripe nearly halves valuation to $50b following $6.5b raise

FILE PHOTO: A smartphone with the Stripe logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration

Payments processor Stripe on Wednesday raised $6.5 billion in a funding round led by existing and new investors at a sharply reduced valuation of $50 billion, down nearly 50% from two years ago.