Stripe has purchased Nigerian startup Paystack, which some have referred to as the “the Stripe of Africa," in an acquisition insiders say is Stripe's biggest ever. While the terms of the deal have not yet been disclosed, sources say Stripe acquired the company for over $200m, which would also be the largest startup acquisition to come out of Nigeria.
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- Stripe’s co-founder and CEO says that although Africa is currently smaller than other regions, online commerce will grow about 30% annually, with online shoppers growing twice as much. "Stripe thinks on a longer time horizon than others because we are an infrastructure company. We are thinking of what the world will look like in 2040-2050," he said.
- Stripe is one of the U.S.'s most valuable closely held start-ups and is valued at $36b.
- The company has added 17 countries to its platform in the last 18 months.
- Stripe also recently made news when it revealed it will be giving a one-time $20,000 bonus to employees who choose to move out of San Francisco, New York, or Seattle before the end of 2020 while simultaneously cutting their base pay by up to 10%.
