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The big story: Stripe valued at $95B
That’s right: The popular payments company has raised $600 million in new funding at a $95 billion valuation. It says it will use the money to expand in Europe while also growing its global payments and treasury network.
“Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense,” said president and co-founder John Collison in a statement.
Meanwhile, over in Extra Crunch, Alex Wilhelm takes a closer look at the company’s new growth numbers, like the fact that it’s now working with more than 50 companies that are each processing more than $1 billion annually.
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Investor Sarah Kunst likens Collins herself to Supreme, the ubiquitous lifestyle brand.
“The thing that Supreme has done incredibly well is the same thing I think some very exceptional founders like Julia can do very well, which is to build a brand that stands for something,” said Kunst. “Smart people know that the best time to get aligned with a great brand is at the drop. A Supreme shirt that costs $100 bucks in the store will cost $1,000 online. So, as an investor, I am just a kid on the street corner flipping sportswear.”
Kunst and Collins met well before Collins even had a clear idea for Planet FWD, but the duo knew they wanted to work together in the future. Kunst essentially told Collins that, whatever she was planning to do next, Kunst wanted to invest in it, sight unseen.
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