Stripe president John Collison has said that the digital payment company has no “immediate” plans to go public, despite its $95 billion valuation.
“We’re very happy as a private company,” Collison said, who founded the company with his brother, said at a conference in Abu Dhabi.
“I think for us part of that and part of our patience stems from the fact that it feels like we’re very early in Stripe’s journey.”
Stripe raised $600 in March, becoming the most valuable US startup and one of the world’s biggest alongside ByteDance, which owns TikTok, data from CB Insights revealed.
Stripe, which has headquarters in both Dublin and San Francisco, was in early discussions with investment banks about the potential of going public as soon as next year through a direct listing or an initial public offering, Bloomberg reported.
Collison said Stripe is looking to grow “more broadly” across the Gulf region to make its services available for companies like UK food-delivery startup Deliveroo, which is also expanding into new markets.
“This is a massive region that is just starting to inflect in terms of its own growth,” he said. “We just arrived here in June. So it feels like we’re early on that journey, we’re still very heavily investing.”
Collison’s statement comes after Stripe announced a tie up with Swedish fintech giant Klarna last month, bringing together the two biggest online fintech businesses on the planet.
The announcement meant that clients that use Stripe’s software can use Klarna’s BNPL payment method without striking a direct partnership with the Swedish company themselves.