Someone noted they pass through 100 billion annually if I remember correctly, but they also take a 5.5% cut, so Stripe secures them as a “customer” while getting their money back over time. It also to me feels like an adjacent business aligned with sort of what Stripe already does to begin with, being someone elses middle man.
That feels high if they were bought at $7B? 5.5% of $100B is $5.5B in annual revenue. 1.3x multiple for AI. No way