alt Hacker NewsStripe valued at $159B, 2025 annual letter
Comments
This feels rich. Compare:
Adyen: $29.408B right now at Yahoo Finance.
PayPal: $41.51B right now.
Visa is valued at $585B and Mastercard is valued at $444B. Is Stripe making more revenue per transaction than Visa and Mastercard?
Congratulations.
But how is it 5x bigger than Adyen, which had 2.3B revenue and 1B earnings in 2025?
It's insane that they aren't public yet. Their investors must be pressuring them like crazy to IPO.
I remember when Stripe started and it was super fun to set it up as a developer and build stuff.
Today I find it does way too much for small projects and the fees are too high. Does anyone knows of good alternatives for that? (Someone recently shared https://astrafi.com/ with me and it seemed promising, with much better fees, but I haven't tested or used anything other than Stripe)
Braintree had $1.53 trillion TPV in 2023[0], and it's just a subsidiary of Paypal which has tanked to $40 billion market cap despite revenue and profit that are probably lightyears ahead of Stripe.
Honestly, I wouldn't touch Stripe with a ten foot poll at this valuation. Fintech is an industry that just disappoints in the end.
> Businesses running on Stripe generated $1.9 trillion in total volume
I think we hackers in general also need to have a value assigned. Even open source authors generate real value but right now I see an imbalance as to who makes money and who does not. I'd even almost go as far as say that taxes (a state gathers) should go to a certain percentage value back to the open source community. There are a lot of details missing here, of course, but from a core view this only seems fair.
I'l also never forget Bill Gates anti-open source letter. That should instantly yield a 99.999% extra tax on him.
Weak. They should pivot to AI.
Sounds like an IPO in 6-18 months.
Another leech piggybacking on the bloated corpus of the greatest leeches in all of consumerdom: credit-card companies.
Disgusting rip-off of consumers, yes, but even worse is the rip-off of merchants.
Private markets is where the wealth is (if you invested at the bottom), as soon as Stripe goes public you're getting dumped on.
Unfortunately you need to be an accredited investor to access these markets.
This is the real gatekeeping here as rich pop stars, actors, sports stars and musicians who aren't versed in tech has more access to investing in these private companies than the academics, students in europe creating the algorithms that power them.
An 11 year old can inherit $100 million and be more "accredited" than you, even though they (may) have no knowledge of the industry, no investing experience and no years of industry experience.
Even if you have knowledge in the tech scene and you know which companies are going to go big in the future, unless you're ultra rich already to qualify as accredited, you're shut out early on.
[flagged]
The public can absolutely participate in this by way of syndication deals. Those syndicates are what's covering up the true extent of ownership and they're essentially charging for access with their fees. It's oddly shady, poorly regulated, and more expensive than just being public, but everyone can ride this ride.