Stripe continues to cut valuation, now valued at $55 billion down from $63 billion: report

Online payments major Stripe has further cut its valuation by about 10% to around $55 billion down from $63 billion previously, as per a report by tech publication The Information. This reduces the payments firm’s total valuation by over 40% since 2021.

This is at least the third time since June that the payments startup has cut its internal valuation. Stripe had cut the internal value of its shares by about 11%, implying a valuation of $63 billion, in January.