The Flip’s Post

Stripe acquires payment processing startup Lemon Squeezy Payments giant Stripe has acquired a four-year-old competitor, Lemon Squeezy, the latter company announced Friday. Terms of the deal were not disclosed. As a merchant of record, Lemon Squeezy calculates and pays global sales tax for digital products, handling legal processing and fees in every country. It primarily serves SaaS and software businesses. In a post on X, Stripe CEO Patrick Collison announced the acquisition, saying, “Welcome @lmsqueezy! We’re going to scale merchant of record selling in a big way.” And Chief Product Officer William Gaybrick shared in his own post: “When asked “what should Stripe ship next?” many of you’ve said merchant of record. The Lemon Squeezy team has built an excellent MoR product, and we’re excited to work together with them to help more of you launch to grow!” In a blog post, Lemon Squeezy co-founder and CEO J.R. Farr noted that since his 13-person company’s public launch in 2021, that it received “many acquisition offers and (Series A) term sheets from investors.” In one podcast, Farr specifically discussed turning down a $50 million Series A term sheet. (It’s not clear how much, if any, venture funding the startup has raised.) He added: “But despite the allure of these opportunities, we knew that what we had built was truly special and needed the right partner to take it to the next level. We’re proud to say that we’ve found that partner in Stripe and have gone from idea to acquisition in under three years.” While he did not share current revenue figures, Farr said that Lemon Squeezy surpassed $1 million in annual recurring revenue nine months after its public launch in 2021. The founder also said that Lemon Squeezy has been processing payments on Stripe since its inception. This isn’t Stripe’s first acquisition this year. In March, the payments giant completed an “acqui-hire” of the four-person team from Supaglue for an undisclosed sum. Supaglue raised a $6.8 million seed round in November 2021, led by Benchmark general partner Chetan Puttagunta. (Puttagunta did not respond to TechCrunch’s request for comment.) Supaglue, formerly known as Supergrain, was an open source developer platform for user-facing integrations. And last summer, Stripe picked up Okay, a startup that developed a low-code analytics software to help engineering leaders better understand how their teams are performing. Okay was a small startup, with just seven employees, that over time had raised $6.6 million from investors such as Sequoia Capital and Kleiner Perkins after graduating from Y Combinator’s Winter 2020 cohort. 👉More news https://lnkd.in/d94JgWBU Source Techcrunch #fintech #payments #cards

Fintech Nexus founder Peter Renton shared this article about Stripe, with the following introduction/explanation: Stripe processed more than $1 trillion in payments in 2023 By Peter Renton Stripe has, for some time, been one of the leading fintech companies globally when it comes to scale. But the numbers it revealed today in its annual letter are truly staggering. It processed $1 trillion, around 1% of global GDP, through its platform in 2023. It crossed that milestone just 15 years after it was founded. Founders Patrick and John Collison penned the 12-page letter where they opined on the state of Stripe, tweaks they have made to the checkout process, their automation efforts, VC funding, clean energy, robotics and more. They also commented on the record number of startups that are using Stripe today and the fact that startups founded in 2022 are generating revenue at a faster pace than those founded in 2019. Despite the challenges in the fintech ecosystem Stripe continues to be a bright spot. They are still growing at a rapid pace while being "robustly cash flow positive in 2023".  This is a bullish sign for all of fintech.

I don't care if you believe it or not, but there was a 💥mafia gang in the Tech Industry. Let me explain! In 2007, Fortune wanted to do a cover story on the members of the ⚡PayPal startup. After hearing the stories of the ⚡13 employees/co-founders, inspired by the excellence and the influence they have on the tech industry, The Fortune team has decided upon an exhilarating name for this gang called ⚡"Paypal Mafia". Watch the full video for the entire story and leave your thoughts down below! BTW, Guess who's the missing person in the gang!😜 💥 Here's a list of all the key members of the gang! ⚡ Peter Thiel: Co-founder and former CEO of PayPal, Thiel is a prominent venture capitalist, co-founding Palantir Technologies and Founders Fund. ⚡Max Levchin: Another co-founder of PayPal, Levchin has been involved in several startups, including Slide and Yelp. ⚡Reid Hoffman: Co-founder of LinkedIn and an early investor in various tech ventures, including OpenAI. ⚡ Keith Rabois: A former executive at PayPal, Rabois has held leadership roles at several companies, including LinkedIn and Square. ⚡ David Sacks: Former COO of PayPal, Sacks later founded Yammer and has invested in numerous startups. ⚡Jawed Karim: One of the first engineers at PayPal, he co-founded YouTube. ⚡Steve Chen: Another co-founder of YouTube who worked at PayPal before its creation. ⚡ Chad Hurley: Co-founder of YouTube, Hurley was also part of the early PayPal team. ⚡ Luke Nosek: Co-founder of PayPal and later involved with various venture capital firms. ⚡ Eric M. Jackson: A marketing executive at PayPal who later authored "The PayPal Wars." ⚡ Yishan Wong: Former engineering manager at PayPal who later became CEO of Reddit. ⚡ Scott Banister: An early advisor at PayPal who co-founded IronPort. #startups #tech

One of the challenges holding back the startup industry in Armenia is the unavailability of Paypal and Stripe. This is normally solved by setting up a company abroad, like Delaware in the US or neighboring country of Georgia. There is, however, a solid way to accept payments that works just fine in Armenia, known as Paddle. Paddle is a competitor to Stripe that has several benefits for Armenia-based startups. 1. Easy setup 2. No upfront costs, only fees on transactions (5%+50 cents) 3. Payout options include Payoneer, very popular in Armenia. This is not a paid or affiliate post, just a practical service worth knowing.

In 2012, Patrick Collison, co-founder of Irish payments technology company Stripe, said it would have been too difficult to set up the company in Ireland, because of the banking and investment systems and the talent pool here. More than a decade on, LinkedIn News Europe asked his brother, fellow Stripe co-founder, John Collison, if this would still be the case. For fintechs in particular, John Collison says, the regulatory environment has become easier, and startups in the space in both Ireland and the UK have been embraced, such as Revolut or Monzo. And while the talent pool is bigger than it used to be, it can be challenging for startups to keep hold of people. Apple, Meta, Google and many other US tech titans have set up their European headquarters in Ireland. Asked if the large number of tech giants help or hinder Ireland's startup scene, John Collison said they have a positive impact overall. "You're seeing a great training-up effect of people where they've experienced working in tech," he says . "There's a larger pool to hire from. We see this at Stripe where we hire people in our Dublin office and then they go off and work at a startup there. We would love it if they stayed working at Stripe but we're also very happy for them that they end up working at a startup and contributing to the Irish internet economy that way." See John Collison's full answer on Ireland's regulatory and funding environment for startups below, and read the rest of the interview here: https://lnkd.in/gSBgCyRQ ✍: Polly Dennison and Sam Shead 📹: Solange Uwimana Source: https://lnkd.in/gMp44Qi5

Discover the inspiring journey of MobiKwik, founded by Stanford graduate Upasana Taku and her husband Bipin Preet Singh. Learn how they built a million-dollar digital payments startup. 🚀 Share your thoughts in the comments below. What lessons can entrepreneurs learn from MobiKwik's success story? #MobiKwikSuccess #StartupLessons #DigitalPayments #JoinTheConversation https://lnkd.in/gdjHFakT

have you ever heard of the “PayPal Mafia”? This is a group of brilliant minds who once lived and worked together to develop PayPal. What’s fascinating is that each member of this circle left their unique mark on the world after their time with PayPal. 1. Elon Musk • Co-founded Xdotcom, which later merged to become PayPal. • Revolutionized industries post-PayPal by founding SpaceX, leading Tesla, and establishing Neuralink and The Boring Company. He also acquired Twitter and rebranded it as X (purchasing the Xdotcom domain after the merger). 2. Peter Thiel • Co-founder and first CEO of PayPal. • Founded Palantir Technologies and the venture capital firm Founders Fund. • Was the first investor in Facebook. 3. Max Levchin • Former CTO of PayPal. • Founded Slide and Affirm, a fintech company. 4. Reid Hoffman • Former Executive Vice President at PayPal. • Founded the professional networking site LinkedIn. • Invested in major companies like Facebook and Airbnb. 5. Luke Nosek • Co-founder of PayPal. • Became a partner at Founders Fund. 6. Scott Banister • Former advisor and board member at PayPal. • Founded IronPort, a cybersecurity company acquired by Cisco. 7. David O. Sacks • COO at PayPal. • Founded Genidotcom and Yammer (later acquired by Microsoft). Now a key investor at Craft Ventures. 8. Jeremy Stoppelman • Former VP of Engineering at PayPal. • Co-founded Yelp, the popular business review platform. 9. Russell Simmons • Former engineer at PayPal. • Co-founded Yelp. 10. Jawed Karim • Co-founder of YouTube. • Uploaded the first video on the platform titled Me at the Zoo. 11. Steve Chen • Former engineer at PayPal. • Co-founded YouTube, now the largest video-sharing platform in the world. 12. Dave McClure • Former marketing director at PayPal. • Founded 500 Startups, a venture capital firm. 13. Keith Rabois • Executive at PayPal. • Held leadership roles at LinkedIn and Square and became an investor at Khosla Ventures. 14. Ken Howery • Co-founder and former CFO of PayPal. • Partner at Founders Fund and former U.S. Ambassador to Sweden. 15. Roelof Botha • Former CFO of PayPal. • Partner at Sequoia Capital, funding companies like YouTube and Instagram. 16. Chad Hurley • Former web designer at PayPal. • Co-founded YouTube. 17. Jason Portnoy • Former CFO at PayPal. • Partnered with several investment firms. 18. Yishan Wong • Former engineering manager at PayPal. • Became CEO of Reddit and founded Terraformation, focused on reforestation. 19. Andrew McCormack • Executive at PayPal. • Engaged in numerous investment projects for startups. 20. Yu Pan • One of PayPal’s earliest engineers and co-founders. • Worked on developing PayPal’s user interface and continued with other startups. 21. Eric M. Jackson • Former marketing director at PayPal. • Authored The PayPal Wars and founded CapLinked.

#StartupHeroes 🚀 In 2010, brothers Patrick and John Collison set out to solve a problem that was frustrating millions of businesses—making online payments seamless and developer-friendly. While working on their own projects, they realized that the payment infrastructure was outdated, clunky, and difficult to integrate into websites. The process was riddled with complexities, especially for startups. Rather than accepting the status quo, the Collison brothers decided to build a solution. Armed with a deep understanding of technology and a clear vision, they launched Stripe, a fintech company designed to simplify online payment processing. Their mission was bold: to make internet payments as simple and accessible as sending an email. The early days were tough. Convincing developers and businesses to trust a young startup with their financial transactions wasn't easy. However, what set Stripe apart was its focus on developers. They made their API so straightforward that companies could set up payments in just a few lines of code, something that was revolutionary at the time. As Stripe gained traction, major companies like Lyft, Shopify, and Slack adopted the platform, drawn to its ease of use and reliability. Investors soon took notice too. The company’s growth exploded as more businesses globally began transacting online, and Stripe continued to innovate by offering new products like fraud prevention tools, billing solutions, and expanding into international markets. Today, Stripe is one of the most valuable fintech startups in the world, with a valuation exceeding $50 billion. The Collison brothers, originally from a small town in Ireland, have become some of the most prominent figures in the tech world, showing what can happen when innovation meets execution. #StartupMotivation #Entrepreneurs #Fintech #MondayMotivation

Adyen vs Stripe is a big question when selecting the right payment processing solution for startups and SMEs. These two prominent players both offer robust platforms designed to handle the complex needs of modern businesses. This article compares their features, pricing, and suitability for different types of startups. 👇 Read more below 👇 #StartupsMagazine #Startups #Entrepreneur

They built a $95 billion fintech giant from scratch. 🤯 But how? Here's the complete case study for you- 1. In 2010, Patrick Collison and John Collison, two Irish brothers with a knack for coding, began working on a side project to simplify online payments. Little did they know, this project would evolve into Stripe, a company now valued at $95 billion. But their journey started long before that. 2. At just 16, Patrick won the Young Scientist of the Year award for his work with Lisp. His younger brother John scored the highest ever on the Irish Leaving Certificate. Patrick left high school early to attend MIT, where he founded Auctomatic during his freshman year. 3. Auctomatic, a Y Combinator-backed startup, was sold for $5 million when Patrick was just 19. Meanwhile, John started at Harvard in 2009. The brothers' experiences in tech and entrepreneurship set the stage for their next big venture. 4. In early 2010, frustrated with the complexity of accepting payments online, they started working on what would become Stripe. Within two weeks, they had their first transaction from a Y Combinator company. The prototype quickly gained traction among their network. 5. Realizing they were onto something big, both brothers began working on Stripe full-time in fall 2010. They bootstrapped initially but soon recognized the need for institutional credibility in the payments industry. 6. Y Combinator provided their first funding, followed by a $2 million round from tech luminaries like Peter Thiel and Sequoia Capital. Thiel, PayPal's founder, offered invaluable insights into the payments market. 7. The company's growth was largely organic, spreading through word of mouth among developers. "Everything else was so bad and so painful to work with that people actually were selling this to their friends," Patrick noted in an interview. 8. Stripe's focus on simplicity and user experience set it apart. They created an instant approval process with a 7-day waiting period for transactions, balancing ease of use with security concerns. 9. By 2012, Stripe had raised an $18 million round at a $100 million valuation. Fast forward to 2015, and they announced a strategic partnership with Visa, significantly boosting their global reach and technological capabilities. 10. Today, Stripe processes hundreds of billions of dollars annually for millions of businesses worldwide. From a side project to a fintech giant, the Collison brothers have revolutionized online payments and built one of the most valuable private companies in the world. The Collison brothers' story shows that with the right idea, execution, and timing, even a "side project" can turn into a global powerhouse. What started as a solution to their own problem has become an indispensable tool for businesses around the globe. #fintech #startup #entrepreneurship