Sources: Stripe is in talks to launch a tender offer that could value the company at $140B+, up from $107B last fall, when it bought back shares from investors
Stripe is in talks to launch a tender offer that could value the payments company at more than $140 billion, Axios Pro has learned from multiple sources.
Context & Ripple Effects
Stripe's reported valuation path has moved sharply from its 2023 financing and employee-liquidity tender to a $91.5B staff and shareholder tender offer in early 2025. Last fall, it was reportedly pursuing a share buyback from VC backers at a $106.7B valuation, making the latest discussions a further step in a recurring private-market liquidity program.
First-order effects
- If completed on the discussed terms, the tender would give participating employees and shareholders a new liquidity window at a price above last fall's buyback level.
- The proposed transaction would establish a higher private-market reference value for Stripe holdings, without requiring a public listing.
Second-order effects
- VC backers and other holders would have to weigh taking liquidity against retaining exposure at the proposed valuation; their decisions could affect how much stock is available in the tender.
- A higher tender price could reset internal and investor marks for Stripe, while making future secondary transactions more closely tied to the new reference point.
Third-order effects
- Repeated tenders and buybacks suggest a durable alternative to an IPO for managing employee equity, investor liquidity, and ownership changes at large private companies.
- If this pattern persists, private-company valuation discovery may increasingly occur through periodic issuer-led transactions rather than a single public-market listing event.
The trend: Stripe is part of a broader shift toward recurring, company-managed secondary liquidity as mature private firms remain private longer.