E-commerce company Stripe is no stranger to the challenges facing startups and now, valued at $22.5 billion, it is prepared to face the challenges of online commerce in Asia. Its CFO and Chief Product Officer Will Gaybrick confessed that he is no stranger to the early troubles a startup such as the company had to endure.
In less than a decade, Forbes reported, the company managed to make payments simplified and streamlined for small to large corporate clients.
Those clients ranged from small startups to large companies and industrial giants which included Deliveroo, Kickstarter, Lyft, Spotify, and Slack. Stripe helped them to quickly set up their online billing and payment systems efficiently.
Pretty soon, the company founded by brothers John and Patrick Collison found itself helping not just startups, but all kinds of companies and even individuals.
Gaybrick said that over time, the company realized that they weren't just reserved for startups. He said that they discovered their true mission was to help companies with a big ambition, no matter the size. They also discovered their mantra of offering companies a way to "grow revenue faster with less effort.
One of their first actions, perhaps, is to open an office in Locust Point in Baltimore. Baltimore Fish Bowl reported that its subsidiary, Helm Services Inc., leased a 44,000sq ft property at 1215 E.Fort Ave., for its first-ever office.
The office wills serve as a hub while it provides support services for the payment firm, the Board of Estimates agenda revealed.
The report also revealed a name change. From being labeled as "Tamarancho, Inc.," on the agenda, the company is now referred to by its current name. It received a $150,000 convertible loan for equipment acquisition, among other items. This is on top of an additional $600,000 loan from the Maryland Department of Commerce.
The loan is connected to the job having livable wages and benefits as well as four-year college degrees. The BDC has referred the company to the Mayor's Office of Employment Development to set up training initiatives and employee acquisition from the local talent pool.
With all the setup, Stripe will continue with doing what they know-use the power of the internet to connect interested buyers with approved sellers. Stripe continues to wheel and deal even as it received a $100 million investment from Tiger Global Management, scaling up their company in record time as they prepare on the path for international expansion.
