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Digital payments processor Stripe Inc, the most valuable U.S. technology startup, has taken its first major step toward a stock market debut by hiring a law firm to help with preparations, according to people familiar with the matter.
The 11-year-old company, which was valued by investors at $95 billion in a fundraising round in March, has sat out this year s red-hot market for initial public offerings (IPOs), using private tender offers to allow some of its existing investors and employees to cash out their holdings.
Remaining private has enabled Stripe to keep such financial details as revenue and profitability under wraps. Yet this has also deprived it of using its shares as a publicly traded currency to help finance acquisitions and to incentivize employees.
Payments company Stripe takes first step toward listing
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Waterford News and Star — Stripe takes first step toward blockbuster listing - report
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Kildare Nationalist — Stripe takes first step toward blockbuster listing - report
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Stripe is said to take first step towards blockbuster listing
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