Payments giant Stripe, last valued by private investors at $95 billion, cut the internal value of its shares by 28%, people familiar with the matter said.
Stripe told employees in an email Friday that the internal share price was about $29, compared with $40 in the most previous internal valuation, known as a 409A valuation, the people said. The move lowered the implied valuation of those shares to $74 billion, according to one of the people, which is calculated separately from the stock owned by major shareholders.
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