Stripe's slower growth

This could complicate short-term IPO plans

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On April 5, payments giant Stripe published its 2022 annual letter. It contained some interesting information.

Here are a few highlights:

• The company processed transactions worth $817 billion in 2022, up 26% from the previous year (that being said, it was up 60% the previous year… in the thick of the COVID-19 pandemic/ecommerce boom era).

• New customer count is up 19% with over 1,000 new businesses joining daily (down from 1,400 in 2021).

• Its large client list has grown. Stripe currently has over 100 companies that each process more than $1 billion in payments over its platform.

• Its geographic reach has increased, with 55% of new customers coming from outside of the United States.

Those figures might be enviable to many businesses right now, but for a company that is said to be interested in an IPO, this deceleration is definitely bad news (especially considering its shrinking valuation: $50 billion, down by about half from its peak of $95 billion two years ago).