Tuesday 29 November 2016

Stripe’s co-founder, John Collison, is world’s youngest self-made billionaire

Stripe’s co-founder, John Collison, is world’s youngest self-made billionaire. As per the report of Forbes, the co-founder brothers of Stripe Inc., Patrick Collison and John Collison, are officially the world’s youngest self-made billionaires after a fresh funding round nearly doubled  their San Francisco-based  company’s valuation to US $9.2 billion. Stripe’s co-founder, John Collison, is world's youngest
self-made billionaireii. The Company raised $150 million from CapitalG, which is an investment division of Google parent company Alphabet, and General Catalyst Partners.
iii. In July 2015, a fundraising round had valued the company at $5 billion which means the company has experienced a growth of $4.2 billion in just over a year.
iv. Prior to the latest funding round, the Collisons owned about 30% of Stripe, However after the $150 million investment, FORBES estimates that each brother owns at least 12% of the company.
v. At the tender age of 26, John Collison, Stripe’s president, is now the world’s youngest self-made billionaire. Brother and CEO Patrick Collison, 28, is also on this exclusive list of self-made billionaires that are under the age of 30.
vi. Snapchat co-founder Bobby Murphy, 28, is the other person on this list.
Stripe :
♦ Stripe Inc., which is based in San Francisco operates in over 25 countries and allows both private individuals and businesses to accept payments over the Internet
♦ Stripe processes online payments for clients including Lyft, Kickstarter and Wish and for each transaction, Stripe takes 2.9% of the transaction plus an additional 30%.

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