Summary of the text „Stripe: the invisible $5bn start-up powering the internet economy“

The text „Stripe: the invisible $5bn start-up powering the internet economy“ published on the 12th September 2015 in „The Telegraph“ is about the startup „Stripe“ which tries to become the leading company for embedding online payments. The text points out that there is a lot of potential for payment services like „Stripe“ because by now only a small percentage of all transactions are made online. To increase this rate the startup wants to make transactions safer, faster and easier.

Furthermore, the text talks about the fact that „Stripe“ managed to raise about 300 million dollars from various investors like Elon Musk or Peter Thiel. That’s why today it is one of the 20 most valuable start-ups.

One of the most important advantages of „Stripe“ is its simplicity. Compared to the competitors like Paypal, it is very easy for companies to integrate. Moreover, customers only have to enter basic details to make a payment.

Allgrove, one of the two founders, explains that „Stripe“ helps entrepreneurs all over the world to sell their products online.

According to the text another advantage is its young age. It made it possible for the company to develope it from scrath for users on mobile devices.

Furthermore, „Stripe“ aims to become part of social commerce where people will be able to buy things immediately from platforms like Facebook.

Allgrove says that in the future retail and e-commerce would come together more but it would still take some time. His vision is to bill persons in shops automatically by using new payment techniques.


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