Stripe In Talks To Acquire Bridge For $1 Billion (techcrunch.com)
- Reference: 0175274873
- News link: https://slashdot.org/story/24/10/18/014215/stripe-in-talks-to-acquire-bridge-for-1-billion
- Source link: https://techcrunch.com/2024/10/17/stripe-in-talks-to-acquire-bridge-for-1-billion/
> Stripe is in talks to [1]acquire stablecoin platform Bridge for a whopping $1 billion , according to [2]Forbes (paypalled). The talks are reportedly in advanced stages, although nothing has been finalized. Bridge, co-founded by Coinbase alumni Zach Abrams and Sean Yu, has built an API that helps companies accept stablecoins. The pair raised $58 million from investors like Index Ventures and Sequoia Capital, according to PitchBook. If the deal with Stripe goes through, it would be a huge jump from Bridge's $200 million valuation, as well as being Stripe's largest acquisition to date.
[1] https://techcrunch.com/2024/10/17/stripe-in-talks-to-acquire-bridge-for-1-billion/
[2] https://www.forbes.com/sites/alexkonrad/2024/10/17/stripe-talks-buy-crypto-startup-bridge-1-billion/
Why would they sell it for real money? (Score:3, Interesting)
I suppose the buyer wasn't prepared to part with any precious cryptocoins so the seller will have to accept worthless dollars instead. They really should have offered something more valuable than the company e.g. an NFT of the company.
Re: Why would they sell it for real money? (Score:2)
Theyâ(TM)re not really buying it with dollars either. You think they are getting a duffle bag of money? Stripe is valued at $65B but they do not have $65B, they do not even have the $1B in liquid assets. This will likely be a tender offer where you basically have investors buying out the stock. All this money is just on paper, not real value (you canâ(TM)t convert the billion dollars without tanking your own stocks).
Re: (Score:2, Interesting)
> All this money is just on paper, not real value (you can’t convert the billion dollars without tanking your own stocks).
Lets say that last part again. A slightly different way.
The bank tells me every day I’m a billionaire. Except on the day I actually try and prove it by making the withdrawal. They tell me if I do, it’s suddenly worthless. Money I can set on fire and burn.
With “value” and “wealth” being defined like that in society, we wonder how we perpetually turn investing into a house of cards. Every damn time.
Re: (Score:1)
This is financial illiteracy on display. You do not understand what money is, you do not understand what wealth is, and you have an imaginary concept of "value and wealth" that matches nothing that exists in reality.
What actually happens is that there is a concept of "wealth" that is partly objective and partly subjective. For example if you own a car, the objective part of wealth formation that car enables is that you have a car that can be used to transport people and things in certain amounts for certain
Well. (Score:5, Funny)
I have a Bridge to sell to you...
Is it (Score:3)
the one in Brooklyn? I hope not, cause I was promised a good deal on it.
Pets.com (Score:3)
These valuations are into Dotcom bubble territory.
Must we do this fandango? (Score:2)
That Altman smuggadouche again? Just hurry up and destroy the world already, I'm getting sick of hearing about you. I even had to see your face a few times.
Re: (Score:2)
Oops. Wrong article. (Hopefully.)
Acquiring bridge? (Score:2)
I refuse to indulge into easy puns.
Re: (Score:2)
They'll paint stripes on it.
The Company Company, Inc. (Score:1)
Stripe. Bridge. “Index” Ventures. “Pitch”Book.
OK, I know. Quite off topic, but is it just me, or did creativity jump out the fucking window after the Verizon branding group dispersed?
Thats some stable marketing alright. Namesakes about as exciting as caffeine-free unflavored Mountain Dew.
Re: (Score:2)
> Namesakes about as exciting as caffeine-free unflavored Mountain Dew.
About as nauseating too.
Is this the same Stripe... (Score:2)
... that is refusing to pass on cost savings from a regulatory mandate in Canada to reduce Visa and Mastercard fees charged by those CC's to merchants?
Article here: [1]Lower Visa and Mastercard fees for small business start this week, but Stripe plans to ignore Ottawa and keep the savings for itself [cfib-fcei.ca]
Someone might want to bring this up with whatever regulatory authority in the USA that oversees large-scale mergers/acquisitions, because "flaunting the law" isn't a good look.
[1] https://www.cfib-fcei.ca/en/media/lower-visa-and-mastercard-fees-for-small-business-start-this-week-but-stripe-plans-to-ignore-ottawa-and-keep-the-savings-for-itself
Wait, buying it with USD? (Score:3)
Why aren't they buying it with crypto?
Re: (Score:2)
Probably buying it with stock or something similar.
Re: (Score:2)
Forgers rarely accept payment in counterfeit money.