In 2010, a startup with the not-so-great name /Dev/Payments was trying to disrupt the payments space.
After a fortuitous name change to Stripe and a decade of incredible execution, that same fintech firm — founded by brothers Patrick and John Collison — is eyeing a new funding round that will value it at $70B-$100B.
Even before any new funding, Stripe already tops the leaderboard for the biggest startup valuation “step-up” (increase) in 2020.
Per private data firm Pitchbook, its $850m Series G Stripe raised in April valued it at $36B, a gain of $13.5B from its previous round.
A total of ~$78B has been pumped into 2.5k+ late-state companies…
…through September of this year. Pitchbook notes that the big winners are in fintech and “lockdown-friendly” names.
Here are the other top valuation step-ups so far in 2020*:
(*If a startup has multiple step-ups, we highlight the most recent)
- Stripe (fintech): From $22.5B to $36B (+$13.5B step-up)
- SpaceX (space): From $35.8B to $46B (+$10.2B)
- Chime (fintech): From $6B to $14.5B (+$8.5B)
- Instacart (delivery): From $13.8B to $17.7B (+$3.9B)
- Hashicorp (dev tools): From $1.9B to $5.3B (+$3.4B)
- Doordash (delivery): From $12.7B to $16B (+$3.3B)
- Better (fintech): From $0.9B to $4B (+$3.1B)
- Robinhood (fintech): From $8.7B to $11.7B (+$3.0B)
- TalkDesk (SaaS): From $0.5B to $3.1B (+$2.6B)
- Marqeta (fintech): From $1.9B to $4.3B (+$2.4B)
The big takeaway for us: it’s eminently possible to recover from a bad first name.