Stripe Payments Firm: Stripe Payments Firm Cuts Internal Estimate by 28% – WSJ

Payment giant Bandthe latest valuation of $95 billion has slashed the intrinsic value of its shares by 28%, the Wall Street Journal reported Thursday, citing people familiar with the matter.

The company told employees via email that its internal share price was about $29, compared to $40 in a previous internal estimate, the report said.

Stripe declined to comment.

Technology high scores this year came under pressure as investor sentiment was hit by fears of a looming recession and cold stock markets.

Earlier this month Swedish payment firm Klarna Bank AB – once the most valuable startup in Europe – raised funds at a valuation that was more than 80% lower than the $46 billion price it raised last year.

Shares in registered digital payment giants PayPal Holdings Inc and Block Inc have also fallen more than 60% this year.

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