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TLDR:
- Stripe processed over $1 trillion in payments in 2023, reaching a major milestone in just 15 years.
- Founders Patrick and John Collison shared insights in their annual letter, highlighting their automation efforts and clean energy initiatives.
In their annual letter, fintech giant Stripe announced that they processed more than $1 trillion in payments in 2023, accounting for around 1% of global GDP. This achievement showcases the company’s rapid growth, reaching this milestone just 15 years after its founding. Founders Patrick and John Collison penned a 12-page letter discussing various aspects of Stripe’s operations, including improvements to the checkout process, automation efforts, VC funding, clean energy initiatives, and more.
The Collison brothers highlighted the record number of startups utilizing Stripe’s platform and noted that startups founded in 2022 are generating revenue at a faster pace than those founded in 2019. Despite challenges in the fintech ecosystem, Stripe remains a bright spot, continuing to grow quickly while maintaining robust cash flow positivity in 2023. This success is seen as a positive indicator for the broader fintech industry.
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