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Stripe Minted More Than $2 Billion in Cash Last Year. Why Go Public?
A new crop of IPOs are coming from CoreWeave, Klarna and StubHub, but most of tech’s top-performing private companies are staying put.
Stripe is putting up the kind of numbers that would send its stock soaring, if it had public stock. The payments processing firm doubled its free cash flow last year to about $2.2 billion and grew revenues about 28% to $5.1 billion, according to financial figures obtained by The Information.
This year’s tech initial public offering parade is preparing to start. Sadly for public market investors, though, most of the best-performing private tech companies are not lining up to march. Stripe is the most notable absentee: It has no intention of going public.