Stripe Valuation Hits $70 Billion in Sequoia Deal (Correct)

Stripe’s valuation has edged up to $70 billion as Sequoia Capital offers to buy shares from its investors looking to cash out of the fintech that helps merchants process customer payments.

Sequoia is offering to buy Stripe shares at $27.51, according to people familiar with the matter, who asked to not be identified because the details aren’t public. The venture capital firm offered that price to limited partners in funds raised between 2009 to 2012 who might want liquidity for their shares, Axios reported Monday. Sequoia is buying up to $861 million in shares, one of the people said.

Representatives ...