I'm a senior editor at Forbes covering venture capital and startups, especially in cloud and AI, out of New York. I edit the Midas List and Under 30 for VC, and created the Midas List Europe and Cloud 100 lists. I've written more than a dozen cover stories on business leaders including Marc Benioff, Patrick Collison and Melanie Perkins.
Months after cofounder John Collison declared"crypto is back," fintech unicorn Stripe is in talks to acquire startup Bridge , a provider of infrastructure for crypto stablecoins, five sources familiar with the discussions toldThe acquisition, which is still under discussion and subject to either party walking away, would likely be the largest to date for Stripe , most recently
at $70 billion. Regulatory considerations such as licenses, as well as compensation for employees including Bridge founders Zach Abrams and Sean Yu, remained potential hurdles, two of the sources said.The $1 billion valuation, which has not been previously reported, would represent a significant increase from Bridge’s previous funding rounds.
Founders Abrams and Yu are also well-known entrepreneurs in the crypto and payments ecosystems. They previously built a Venmo competitor called Evenly, which theyto Block in 2013. Abrams held senior roles at payments companies Coinbase and Brex, while Yu worked at DoorDash and Airbnb. The two teamed up again to launch Bridge in 2022.
Stripe has made several acquisitions in recent years, all with undisclosed deal terms. In 2021, Stripe acquired TaxJar, a startup that had raised $62 million and reached a $179 million private valuation from investors, according to data from startup tracker PitchBook; in July, itEarlier in October, Stripe announced the availability of a new “Pay with Crypto” feature that integrated stablecoins with its customer checkout offerings while charging a 1.5% transaction fee.
Asked directly if Stripe was attempting to acquire Bridge to help, Gaybrick demurred: “I basically can share that we are really investing heavily here , and I don’t have any updates for now on that front,” he said.
John Collison Bridge Sequoia Crypto Stablecoin USDC Bridge.Xyz Stripe Acquisition Stripe Acquires Bridge
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