Sequoia Capital has reached out to investors with an opportunity to purchase shares in Stripe, valuing the company at $70 billion.
Sequoia, which invested in Stripe 14 years ago, has contacted limited partners from funds established between 2009 and 2012, offering to acquire up to $861 million in shares at a price of $27.51 each, as reported by Axios.
This offer enables limited partners to access liquidity as Stripe postpones its anticipated IPO. In February, Stripe entered into an agreement with investors that allowed employees to cash out their shares, valuing the payments firm at $65 billion.
Previously, Stripe’s valuation was pegged at $50 billion during a funding round last March, a decrease from the $95 billion valuation it received in 2021.