Stripe’s Crypto Deal Provides Momentary Relief to Investors

Stripe’s announcement that it was buying cryptocurrency payments startup Bridge delivered a dose of optimism to venture capitalists this week. The deal is poised to become the largest-ever crypto acquisition and punctuated a particularly dreary market for mergers and public offerings.

The purchase values the two-and-a-half-year-old company at $1.1 billion, or 90 times revenue, according to Yueqi’s reporting. It's a quick win for its investors.