Stripe is the latest fintech to falter, taking a 28% internal valuation cut

Stripe is the latest high-profile fintech company to take a massive valuation cut as the market downturn begins to hit the sector especially hard. Last valued at $95 billion, the payments processor has cut the internal value of its shares by 28%, sources told the Wall Street Journal.
The Journal reports that the valuation cut comes from a 409a price change, which means that Stripe hasn’t decreased the value of preferred shares sold in the last round. An internal valuation change is meant to be a more objective pricing, not set by startups or venture investors but chosen by a third party. Despi

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