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	<title>GigaOM &#187; Stripe</title>
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		<title>GigaOM &#187; Stripe</title>
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		<title>Rocket brings in $13M for Stripe clone Paymill amid IPO rumors</title>
		<link>http://gigaom.com/2013/01/07/rocket-brings-in-13m-for-stripe-clone-paymill-amid-ipo-rumors/</link>
		<comments>http://gigaom.com/2013/01/07/rocket-brings-in-13m-for-stripe-clone-paymill-amid-ipo-rumors/#comments</comments>
		<pubDate>Mon, 07 Jan 2013 10:43:00 +0000</pubDate>
		<dc:creator>David Meyer</dc:creator>
				<category><![CDATA[Europe]]></category>
		<category><![CDATA[PayLeven]]></category>
		<category><![CDATA[Paymill]]></category>
		<category><![CDATA[Rocket Internet]]></category>
		<category><![CDATA[Samwer Brothers]]></category>
		<category><![CDATA[Stripe]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=599492</guid>
		<description><![CDATA[The Berlin clone factory's simple payments service, Paymill, has picked up €10 million from Holtzbrinck and Sunstone. With Rocket's many operations pulling in tens of millions in investment each month, the flotation rumor comes as no surprise.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=599492&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p>When it&#8217;s not <a href="http://gigaom.com/europe/clone-factory-rocket-finally-comes-clean/">cloning e-commerce stores</a> at a prodigious rate, Berlin&#8217;s Rocket Internet also dabbles in cloning new payment technologies. <a href="http://gigaom.com/europe/rocket-swipes-double-digit-millions-for-square-clone/">Payleven</a> was the Square clone &#8211;although there are now <a href="http://gigaom.com/europe/mobile-pos-wars-adyens-shuttle-will-be-headache-for-izettle-and-payleven/">many of those in Europe</a> &#8212; and Paymill the Stripe clone.</p>
<p>On Monday the Samwer Brothers&#8217; accelerator announced significant funding for Paymill, namely €10 million ($13 million) from regular Rocket investor Holtzbrinck Ventures and first-timer Sunstone Capital. The cash will go towards boosting Paymill&#8217;s technical platform and customer services.</p>
<p>As with <a href="http://gigaom.com/2012/10/10/stripe-accelerates-payment-acceptance-with-stripe-connect/">Stripe</a>, Paymill&#8217;s <i>raison d&#8217;être</i> is to give developers a simple, API-driven way to integrate payments into their sites without having to bear the responsibility of handling sensitive payment details.</p>
<p>However, there&#8217;s a pretty big difference, and one which should be familiar to observers of the Samwer Brothers&#8217; standard methods: internationalization. Stripe is available in the U.S. and Canada. Paymill, which launched a mere five months ago, is available across 34 countries in Europe and elsewhere.</p>
<p>As has been the case particularly in the last year or so, Rocket&#8217;s <a href="http://gigaom.com/europe/the-ethics-of-cloning-why-original-isnt-always-essential/">cloning ways</a> have proven highly lucrative in terms of investment. Barely a month goes by without the company or one of its many &#8216;startups&#8217; slurping up tens of millions, with the most enthusiastic investors these days being JP Morgan and Sweden&#8217;s Kinnevik.</p>
<p>Indeed, so great is the momentum behind Rocket right now that there&#8217;s even <a href="http://tropicalconsiderations.com/2013/01/05/breaking-news-rocket-internet-preparing-to-go-public/">a rumor</a> of the company going public. That report is unconfirmed (I&#8217;m awaiting a response from Rocket, though not holding my breath) but it does seem remarkably detailed.</p>
<p>Of course, if Rocket does float, it won&#8217;t be the Paymill and Payleven stuff that&#8217;s high on investors&#8217; priority lists: it will be the dozens of cloned e-commerce operations that Rocket is ramming into Europe, Southeast Asia and Latin America. But, that said, there&#8217;s clearly plenty of cash flowing into those more technological plays, and there&#8217;s no reason to see that stopping anytime soon.</p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=599492&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=380909"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=380909" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=599492+rocket-brings-in-13m-for-stripe-clone-paymill-amid-ipo-rumors&utm_content=superglaze">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2010/12/google-and-the-ghost-of-silicon-valley-past/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=599492+rocket-brings-in-13m-for-stripe-clone-paymill-amid-ipo-rumors&utm_content=superglaze">Google and the Ghost of Silicon Valley Past</a></li><li><a href="http://pro.gigaom.com/2011/12/will-cloud-computing-push-the-bric-market-to-the-front/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=599492+rocket-brings-in-13m-for-stripe-clone-paymill-amid-ipo-rumors&utm_content=superglaze">Will cloud computing push the BRIC market to the front?</a></li><li><a href="http://pro.gigaom.com/2011/12/facebooks-tactical-retreat-on-privacy/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=599492+rocket-brings-in-13m-for-stripe-clone-paymill-amid-ipo-rumors&utm_content=superglaze">Facebook&#8217;s tactical retreat on privacy</a></li></ul>]]></content:encoded>
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		<slash:comments>2</slash:comments>
	
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		<title>Revealed: the finalists for the 2012 Crunchies</title>
		<link>http://gigaom.com/2013/01/03/revealed-the-finalists-for-the-2013-crunchies/</link>
		<comments>http://gigaom.com/2013/01/03/revealed-the-finalists-for-the-2013-crunchies/#comments</comments>
		<pubDate>Thu, 03 Jan 2013 18:00:44 +0000</pubDate>
		<dc:creator>Tom Krazit</dc:creator>
				<category><![CDATA[Airbnb]]></category>
		<category><![CDATA[asana]]></category>
		<category><![CDATA[Baumgartner Jump]]></category>
		<category><![CDATA[Box]]></category>
		<category><![CDATA[Cloudera]]></category>
		<category><![CDATA[Codecademy]]></category>
		<category><![CDATA[Coursera]]></category>
		<category><![CDATA[edmodo]]></category>
		<category><![CDATA[Evernote]]></category>
		<category><![CDATA[Exec]]></category>
		<category><![CDATA[Fab]]></category>
		<category><![CDATA[facebook timeline]]></category>
		<category><![CDATA[Flipboard]]></category>
		<category><![CDATA[freshbooks]]></category>
		<category><![CDATA[Get It Now/Postmates]]></category>
		<category><![CDATA[Google Glass]]></category>
		<category><![CDATA[Google Maps]]></category>
		<category><![CDATA[Grindr]]></category>
		<category><![CDATA[Hailo]]></category>
		<category><![CDATA[Hotel Tonight]]></category>
		<category><![CDATA[Instagram]]></category>
		<category><![CDATA[instapaper]]></category>
		<category><![CDATA[Karma/Facebook Gifts]]></category>
		<category><![CDATA[Khan Academy]]></category>
		<category><![CDATA[Lyft]]></category>
		<category><![CDATA[Marc Andreessen]]></category>
		<category><![CDATA[Marissa Mayer]]></category>
		<category><![CDATA[Mark Zuckerberg]]></category>
		<category><![CDATA[Mars Curiosity]]></category>
		<category><![CDATA[Medium]]></category>
		<category><![CDATA[Nimbus]]></category>
		<category><![CDATA[Paper by FiftyThree]]></category>
		<category><![CDATA[Pinterest]]></category>
		<category><![CDATA[Plexxi]]></category>
		<category><![CDATA[Prismatic]]></category>
		<category><![CDATA[Rovio]]></category>
		<category><![CDATA[Snapchat]]></category>
		<category><![CDATA[soundcloud]]></category>
		<category><![CDATA[SpaceX]]></category>
		<category><![CDATA[spotify]]></category>
		<category><![CDATA[Square]]></category>
		<category><![CDATA[Stripe]]></category>
		<category><![CDATA[Svbtle]]></category>
		<category><![CDATA[taskrabbit]]></category>
		<category><![CDATA[techmeme]]></category>
		<category><![CDATA[Tesla Supercharger Network]]></category>
		<category><![CDATA[Tumblr]]></category>
		<category><![CDATA[Uber]]></category>
		<category><![CDATA[Udacity]]></category>
		<category><![CDATA[Upverter]]></category>
		<category><![CDATA[Warby Parker]]></category>
		<category><![CDATA[xiaomi]]></category>
		<category><![CDATA[Zendesk]]></category>
		<category><![CDATA[Zulily]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=598678</guid>
		<description><![CDATA[Five finalists have been chosen in 20 different categories for the 2012 Crunchies awards, and we're proud to release the worthy nominees today. Voting for the winners starts today, and the winners will be announced January 31st.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=598678&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p>The finalists for the 2012 Crunchies have been released, and now it&#8217;s time to decide who should rewarded for their technology innovation and leadership over the course of 2012.</p>
<p>The list of honorees follows below, and it&#8217;s a list packed with newcomers as well as Silicon Valley veterans. Thanks to all for voting in the nomination process, and now that we&#8217;ve narrowed it down to five candidates for each award, don&#8217;t forget to vote for which person or company you think is most deserving. Voting begins today (<a href="http://crunchies2012.techcrunch.com/vote/">the voting page can be found here</a>, and the <a href="http://techcrunch.com/events/crunchies-2012/rules/">rules are here</a>) and closes on January 24th.</p>
<p>As a reminder, the Crunchies, a joint production with our friends at <a href="http://techcrunch.com/2013/01/03/2012-crunchies-finalists/">Techcrunch</a> and <a href="http://venturebeat.com/2013/01/03/crunchies-finalists-2012/">Venturebeat</a>, will take place on Thursday, January 31, 2013, from 7:30pm to 11:30pm at Louise M. Davies Symphony Hall, 201 Van Ness Ave, San Francisco. <a href="http://crunchies2012.eventbrite.com/">You can purchase tickets here</a>.</p>
<p>So, without any further delay, the nominees for the 2012 Crunchies are as follows:</p>
<p><strong>Best Technology Achievement</strong><br />
Baumgartner Jump<br />
Google Glass<br />
Mars Curiosity<br />
SpaceX docks with International Space Station<br />
Tesla Supercharger Network</p>
<p><strong>Best Collaborative Consumption Service</strong><br />
Airbnb<br />
Get It Now/Postmates<br />
Lyft<br />
TaskRabbit<br />
Uber</p>
<p><strong>Best E-Commerce Application</strong><br />
Fab<br />
Hotel Tonight<br />
Karma/Facebook Gifts<br />
Warby Parker<br />
Zulily</p>
<p><strong>Best Mobile Application</strong><br />
Evernote<br />
Google Maps<br />
Grindr<br />
Instagram<br />
Square</p>
<p><strong>Fastest Rising Startup</strong><br />
Exec<br />
Lyft<br />
Pinterest<br />
Snapchat<br />
Stripe</p>
<p><strong>Best Content Discovery Application</strong><br />
Flipboard<br />
Instapaper<br />
Pinterest<br />
Prismatic<br />
Tumblr</p>
<p><strong>Best Design</strong><br />
Facebook Timeline<br />
Medium<br />
Paper by FiftyThree<br />
Square<br />
Svbtle</p>
<p><strong>Best Bootstrapped Startup </strong><br />
FreshBooks<br />
Instapaper<br />
Nimbus<br />
Techmeme<br />
Upverter</p>
<p><strong>Sexiest Enterprise Startup</strong><br />
Asana<br />
Box<br />
Cloudera<br />
Plexxi<br />
Zendesk</p>
<p><strong>Best International Startup</strong><br />
Hailo<br />
Rovio<br />
Soundcloud<br />
Spotify<br />
Xiaomi</p>
<p><strong>Best Education Startup</strong><br />
Codecademy<br />
Coursera<br />
Edmodo<br />
Khan Academy<br />
Udacity</p>
<p><strong>Best Hardware Startup</strong><br />
Lit Motors<br />
Lockitron<br />
Makerbot<br />
Nest<br />
Raspberry Pi</p>
<p><strong>Best Time Sink</strong><br />
Angry Birds Star Wars<br />
Buzzfeed<br />
Letterpress<br />
Pinterest<br />
WhatsApp</p>
<p><strong>Biggest Social Impact</strong><br />
Donors Choose<br />
Indiegogo<br />
Kickstarter<br />
Kiva<br />
Reddit</p>
<p><strong>Angel of the Year</strong><br />
Michael Arrington<br />
Chris Dixon<br />
Paul Graham<br />
David Lee<br />
Chris Sacca</p>
<p><strong>VC of the Year</strong><br />
Marc Andreessen and Ben Horowitz<br />
Matt Cohler<br />
Jim Goetz<br />
Michael Moritz<br />
Peter Thiel</p>
<p><strong>Founder of the Year</strong><br />
Nathan Blecharczyk, Brian Chesky, Joe Gebbia (Airbnb)<br />
Kevin and Julia Hartz (Eventbrite)<br />
Elon Musk (SpaceX, Tesla)<br />
Kevin Systrom (Instagram)<br />
Nir Zuk (Palo Alto Networks)</p>
<p><strong>CEO of the Year</strong><br />
Dick Costolo (Twitter)<br />
Phil Libin (Evernote)<br />
Marissa Mayer (Yahoo!)<br />
Larry Page (Google)<br />
Mark Zuckerberg (Facebook)</p>
<p><strong>Best New Startup of 2012</strong><br />
Coursera<br />
Crowdtilt<br />
Lyft<br />
Snapchat<br />
Waze</p>
<p><strong>Best Overall Startup of 2012</strong><br />
Fab<br />
Github<br />
Instagram<br />
Palantir<br />
Square</p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=598678&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=352908"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=352908" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=598678+revealed-the-finalists-for-the-2013-crunchies&utm_content=tkrazit">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2012/01/12-tech-leaders-resolutions-for-2012/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=598678+revealed-the-finalists-for-the-2013-crunchies&utm_content=tkrazit">12 tech leaders’ resolutions for 2012</a></li><li><a href="http://pro.gigaom.com/2012/09/sector-roadmap-work-media-tools-in-2012/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=598678+revealed-the-finalists-for-the-2013-crunchies&utm_content=tkrazit">Work media tools in 2012 and beyond</a></li><li><a href="http://pro.gigaom.com/2012/04/flash-analysis-future-opportunities-for-pinterest/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=598678+revealed-the-finalists-for-the-2013-crunchies&utm_content=tkrazit">Flash analysis: future opportunities for Pinterest</a></li></ul>]]></content:encoded>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">The Crunchies award</media:title>
		</media:content>

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		<title>Stripe accelerates payment acceptance with Stripe Connect</title>
		<link>http://gigaom.com/2012/10/10/stripe-accelerates-payment-acceptance-with-stripe-connect/</link>
		<comments>http://gigaom.com/2012/10/10/stripe-accelerates-payment-acceptance-with-stripe-connect/#comments</comments>
		<pubDate>Wed, 10 Oct 2012 16:00:35 +0000</pubDate>
		<dc:creator>Ryan Kim</dc:creator>
				<category><![CDATA[online payments]]></category>
		<category><![CDATA[Stripe]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=571590</guid>
		<description><![CDATA[Online payment provider Stripe is enabling website creators, marketplace owners and other businesses to offer Stripe to its merchants and customers, giving them a fast path to credit card acceptance with Stripe Connect. Companies like Shopify, Skillshare, Reddit and others among the first customers. <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=571590&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.stripe.com">Stripe</a> is poised to open up its dead simple payment API to a lot more customers now with the release of Stripe Connect, a new tool which allows website builders, marketplace owners and other businesses to enable their merchants and customers to start accepting Stripe credit card payments.</p>
<p>With Stripe Connect, an online store creator like Shopify or a service like Skillshare, both of whom are customers, can easily enable their sellers to accept payment immediately via Stripe without having to go through the drawn out process of getting a merchant account. Previously, some of their merchants might have manually added Stripe as a payment tool by copying and pasting in API keys, but now these platforms can offer Stripe to all of their sellers. Stripe Connect will be available in the US and Canada, which <a href="http://gigaom.com/2012/09/19/stripe-begins-global-payment-quest-with-canada-expansion/">received Stripe service last month</a>.</p>
<p>Stripe hasn&#8217;t said how many customers it has but Stripe Connect is likely to increase the number of merchants that turn to Stripe for payments. Reddit will use Stripe Connect to help communities accept donations while online form builder WuFoo will make it easy for customers to accept one-click payments in their online forms. Fundraising platform Razoo will be able to make payments easier for its non-profit customers.</p>
<p><a href="http://gigaom2.files.wordpress.com/2012/10/stripeconnect2.jpg"><img  title="Stripe, payments" src="http://gigaom2.files.wordpress.com/2012/10/stripeconnect2.jpg?w=300&#038;h=223" alt="Stripe, payments" width="300" height="223" class="alignleft size-medium wp-image-571596" /></a>Stripe Connect won&#8217;t just widen payment acceptance, it will also allow customers to connect their payment data easily into analytics tools, CRM systems and accounting software. With Stripe&#8217;s API opening up a standardized way to access payment data, customers can plug in a number of tools to better understand what their payment data is telling them. SumAll, for example, will allow Stripe Connect users to see their real-time transaction data along with their web and social data.</p>
<p>In its first year on the market, Stripe has won over a lot of developers and enterprise customers, who appreciate the way the San Francisco company has simplified payment acceptance, making it as easy as connecting to any other API. Stripe has raised $38 million to date <a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/">including a $20 million round in July</a> with a valuations whispered as high as $1 billion.</p>
<p>Patrick Collison, Stripe&#8217;s co-founder, said Stripe Connect, which has been in private beta for six months, is the biggest thing the startup has done since it launched. He expects Stripe Connect can enable a lot more people to participate in the Internet economy.</p>
<p>&#8220;So many people on the web should be transacting but they aren&#8217;t. This should increase that exponentially,&#8221; Collison said.</p>
<p>Collison said previously that the Internet is opening up a lot of opportunities to promote commerce, everything from collaborative consumption startups like Airbnb to online marketplace like Shopify and Etsy.</p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=571590&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=79286"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=79286" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=571590+stripe-accelerates-payment-acceptance-with-stripe-connect&utm_content=oryankim">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2012/02/the-real-issue-behind-facebooks-ipo-how-much-bigger-can-the-company-get/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=571590+stripe-accelerates-payment-acceptance-with-stripe-connect&utm_content=oryankim">Law of large numbers: the issue behind Facebook&#8217;s IPO</a></li><li><a href="http://pro.gigaom.com/2013/01/ces-2013-flash-analysis-disruptions-and-disappointments-from-consumer-techs-biggest-show/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=571590+stripe-accelerates-payment-acceptance-with-stripe-connect&utm_content=oryankim">GigaOM Research highs and lows from CES 2013</a></li><li><a href="http://pro.gigaom.com/2013/01/how-hr-can-make-the-case-for-workforce-analytics/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=571590+stripe-accelerates-payment-acceptance-with-stripe-connect&utm_content=oryankim">How HR can make the case for workforce analytics</a></li></ul>]]></content:encoded>
			<wfw:commentRss>http://gigaom.com/2012/10/10/stripe-accelerates-payment-acceptance-with-stripe-connect/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
	
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			<media:title type="html">Stripe, payments</media:title>
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		<media:content url="http://2.gravatar.com/avatar/81c4fca1b2d82a7fb9c8657de52386d1?s=96&#38;d=retro&#38;r=PG" medium="image">
			<media:title type="html">oryankim</media:title>
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		<title>Stripe begins global payment quest with Canada expansion</title>
		<link>http://gigaom.com/2012/09/19/stripe-begins-global-payment-quest-with-canada-expansion/</link>
		<comments>http://gigaom.com/2012/09/19/stripe-begins-global-payment-quest-with-canada-expansion/#comments</comments>
		<pubDate>Wed, 19 Sep 2012 16:00:23 +0000</pubDate>
		<dc:creator>Ryan Kim</dc:creator>
				<category><![CDATA[online payments]]></category>
		<category><![CDATA[payments]]></category>
		<category><![CDATA[Stripe]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=564430</guid>
		<description><![CDATA[Online payment startup Stripe is expanding to Canada after debuting in the US last year as a simple tool for developers who want to take payments. The expansion is the first step in a plan to go global and enable payments anywhere on the Internet.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=564430&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p>Stripe has been a revelation for thousands of developers in its first year because of the way it allows them to accept online payments by tapping a simple API. But Stripe&#8217;s benefits have been limited to the US &#8212; until now.</p>
<p>Stripe is answering its most frequently asked question &#8212; when will you expand beyond the US &#8212; with the launch of service in Canada Wednesday. The move follows a <a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/">limited beta in Canada in the summer</a> with companies including Tarsnap, MetaLab, and Shopify. Now developers north of the border will be able to take advantage of Stripe&#8217;s flat pricing, instant setup and the ability to accept all major credit cards.</p>
<p><a href="http://gigaom2.files.wordpress.com/2012/09/stripe2.jpg"><img  title="Stripe" src="http://gigaom2.files.wordpress.com/2012/09/stripe2.jpg?w=300&#038;h=155" alt="Stripe" width="300" height="155" class="alignleft size-medium wp-image-564449" /></a>Expanding to Canada may not sound that challenging but it&#8217;s a big step for Stripe. Patrick Collison, Stripe&#8217;s co-founder said Canada presented unique problems because it&#8217;s controlled by legacy payment processors and also lacks needed infrastructure and facilities. The company had to work with American Express and Wells Fargo, who built custom software to enable the Stripe system to work.</p>
<p>Previously, the process of setting up online payments in Canada was often frustrating for businesses, who had to work mightily to get set up by banks. It could often take months to get approved for a merchant account.</p>
<p>Tobias Lütke, founder of Shopify, said it took months of pleading and thousands of dollars for unnecessary security audits to convince the banks to let it accept payments. And even though it has integrated with 100 different payment systems, he said none of those implementations was as easy as Stripe.</p>
<div id="attachment_564450" class="wp-caption alignright" style="width: 310px"><a href="http://gigaom2.files.wordpress.com/2012/09/patrick-collison-headshot.jpg"><img  title="Stripe co-founder Patrick Collison" src="http://gigaom2.files.wordpress.com/2012/09/patrick-collison-headshot.jpg?w=300&#038;h=248" alt="Stripe co-founder Patrick Collison" width="300" height="248" class="size-medium wp-image-564450" /></a><p class="wp-caption-text">Stripe co-founder Patrick Collison</p></div>
<p>Collison said moving into Canada has meant Stripe has had to start handling new currencies besides the American dollar. And it&#8217;s also learning different ways to acquire information from international businesses. That investment though will pay off as Stripe moves into new markets around the world. Ultimately, Stripe&#8217;s goal is  bring payments to anywhere on the Internet, Collison said.</p>
<p>&#8220;A lot of the work we did to support more than one country will make it easier to move to other countries,&#8221; said Collison. &#8220;We’ve put a foundation in place to make this a global payment infrastructure.&#8221;</p>
<p>Stripe&#8217;s international growth can be good for a seller in Kenya who can&#8217;t process payments in Europe or the US. But it&#8217;s also helpful for many American startups who struggle with global expansion because setting up payments in each country requires a lot of expertise. If Stripe can expand to a lot of international markets, it can enable a lot more online commerce. It&#8217;s going to take some time, but with Canada under Stripe&#8217;s belt, we might see more countries on board soon.</p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=564430&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=956508"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=956508" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=564430+stripe-begins-global-payment-quest-with-canada-expansion&utm_content=oryankim">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2012/02/the-real-issue-behind-facebooks-ipo-how-much-bigger-can-the-company-get/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=564430+stripe-begins-global-payment-quest-with-canada-expansion&utm_content=oryankim">Law of large numbers: the issue behind Facebook&#8217;s IPO</a></li><li><a href="http://pro.gigaom.com/2012/02/facebooks-ipo-filing-the-opening-shot-heard-round-the-world/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=564430+stripe-begins-global-payment-quest-with-canada-expansion&utm_content=oryankim">Facebook&#8217;s IPO filing: ideas and implications</a></li><li><a href="http://pro.gigaom.com/2013/01/ces-2013-flash-analysis-disruptions-and-disappointments-from-consumer-techs-biggest-show/?utm_source=tech&utm_medium=editorial&utm_campaign=auto3&utm_term=564430+stripe-begins-global-payment-quest-with-canada-expansion&utm_content=oryankim">GigaOM Research highs and lows from CES 2013</a></li></ul>]]></content:encoded>
			<wfw:commentRss>http://gigaom.com/2012/09/19/stripe-begins-global-payment-quest-with-canada-expansion/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
	
		<media:thumbnail url="http://gigaom2.files.wordpress.com/2012/09/stripe-e1341961198147.jpeg?w=150" />
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			<media:title type="html">Stripe</media:title>
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		<media:content url="http://2.gravatar.com/avatar/81c4fca1b2d82a7fb9c8657de52386d1?s=96&#38;d=retro&#38;r=PG" medium="image">
			<media:title type="html">oryankim</media:title>
		</media:content>

		<media:content url="http://gigaom2.files.wordpress.com/2012/09/stripe2.jpg?w=300" medium="image">
			<media:title type="html">Stripe</media:title>
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		<media:content url="http://gigaom2.files.wordpress.com/2012/09/patrick-collison-headshot.jpg?w=300" medium="image">
			<media:title type="html">Stripe co-founder Patrick Collison</media:title>
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		<title>Rocket apes Stripe and takes its clone factory to new countries</title>
		<link>http://gigaom.com/2012/08/14/rocket-apes-stripe-and-takes-its-clone-factory-to-new-countries/</link>
		<comments>http://gigaom.com/2012/08/14/rocket-apes-stripe-and-takes-its-clone-factory-to-new-countries/#comments</comments>
		<pubDate>Tue, 14 Aug 2012 15:25:23 +0000</pubDate>
		<dc:creator>David Meyer</dc:creator>
				<category><![CDATA[Berlin]]></category>
		<category><![CDATA[Billpay]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[PayLeven]]></category>
		<category><![CDATA[payments]]></category>
		<category><![CDATA[Paymill]]></category>
		<category><![CDATA[Rocket Internet]]></category>
		<category><![CDATA[Samwer Brothers]]></category>
		<category><![CDATA[Square]]></category>
		<category><![CDATA[Stripe]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=552711</guid>
		<description><![CDATA[Never ones to rest on their laurels, the Samwer brothers have launched their copy of hot payments service Stripe, while also partnering up with the cellular carrier Millicom for a fresh push into emerging markets<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=552711&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p>That was quick. Around a month ago, payments processor <em>du jour</em> Stripe got <a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/">valued at half a billion dollars</a>. Rumours emerged just days later that Berlin clone factory Rocket Internet was <a href="http://gigaom.com/europe/rocket-may-clone-stripe-to-beef-up-payments-portfolio/">set to pump out a copy</a> - now that version has arrived in the form of <a href="https://www.paymill.de/">Paymill</a>.</p>
<p>It&#8217;s the third of the Samwer brothers&#8217; payment service clones – <a href="http://gigaom.com/europe/rocket-may-clone-stripe-to-beef-up-payments-portfolio/">BillPay</a> already copies BillMeLater and <a href="http://gigaom.com/europe/rocket-swipes-double-digit-millions-for-square-clone/">PayLeven</a> apes Square. Like those others, Paymill hews closely to its source material &#8211; for instance, Stripe <a href="https://stripe.com/docs/api">offers developers</a> a simple RESTful API for quickly integrating payment functionality without the hassle of handling card details, and <a href="https://www.paymill.de/documentation/referenz/api-referenz/index.html">so does Paymill</a>.</p>
<p>Several German online stores have already implemented Paymill, namely DieJeans.de, Tailory.com, Flakegolf.de and mywineportal.com.</p>
<p>Stripe takes a 2.9 percent cut, plus 30 U.S. cents, per transaction. Paymill takes 2.95 percent and 28 euro cents, or 35 U.S. cents. So the Rocket option is a bit pricier &#8211; but, then again, it&#8217;s available outside the U.S., which Stripe is not. Right now, Paymill is a Germany-only affair, but the likelihood of it staying that way for long is roughly equivalent to that of the Beatles reforming – the <a href="https://www.paymill.de/">homepage</a> is in German, but the documentation is <em>auf Englisch</em>.</p>
<p><a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/stripe/" rel="attachment wp-att-541362"><img  title="stripe" src="http://gigaom2.files.wordpress.com/2012/07/stripe-e1341961198147.jpg?w=300&#038;h=211" alt="" width="300" height="211" class="alignleft size-medium wp-image-541362" /></a>I doubt it will be long before we see Paymill raise serious funding, and I&#8217;ll stick my neck out and say the cash will come from regular Samwer investors <a href="http://gigaom.com/europe/kinnevik-cosies-up-to-rocket-again-in-billpay-round/">Kinnevik and/or Holtzbrinck Ventures</a>.</p>
<p>Stripe founders Patrick and John Collison had better get a move on with their international expansion.</p>
<p>In their favour, it must be noted that Rocket is yet to create a palpable success in the payments field – their many triumphs have mostly been in straight-ahead e-commerce. On the other hand, when they do figure out how to execute on an idea, they do it <a href="http://gigaom.com/europe/clone-factory-rocket-finally-comes-clean/">fast and comprehensively</a>. Nobody on this planet internationalizes as aggressively as Rocket does.</p>
<h3><strong>Emerging markets</strong></h3>
<p>Speaking of which, Rocket had a second major announcement on Tuesday: the signing of a deal between it and the mobile operator <a href="http://www.millicom.com/">Millicom</a>, which offers services in Africa and Latin America.</p>
<p><a href="http://gigaom.com/2012/01/25/now-samwer-bros-clone-fab-and-target-european-rollout/samwers-tall/" rel="attachment wp-att-475718"><img  title="samwers-tall" src="http://gigaom2.files.wordpress.com/2012/01/samwers-tall.jpg?w=300&#038;h=200" alt="" width="300" height="200" class="alignright size-medium wp-image-475718" /></a>As with all <a href="http://gigaom.com/europe/is-asterix-the-answer-deutsche-telekoms-quest-for-life-after-voice/">clever carriers</a>, Millicom is big into the diversification game right now, and its deal with the Samwers certainly gives it that. The two outfits are going to &#8220;jointly develop franchises in the online sector in Latin America and Africa&#8221;. Millicom will have the option over the next four years to gradually buy up controlling stakes in Rocket&#8217;s Latin America Internet Holding and Africa Internet Holding subsidiaries.</p>
<p>The two holding companies control eight operating businesses now, and are &#8220;required to launch a number of new businesses in Latin America and Africa over the next three years&#8221;, according to the statement. Millicom gets 20 percent of both companies when the deal closes, and is expected to up that to 50 percent within two years (the first instalment of €85m will head Rocket&#8217;s way in the fourth quarter of this year).</p>
<p>As usual, this is a story of the German company <a href="http://gigaom.com/europe/german-start-ups-seek-e-commerce-opening-as-u-s-leaves-rest-of-world-open/">pushing into markets that are largely ignored by the Americans</a>. As Millicom chief Mikael Grahne put it:</p>
<blockquote><p>&#8220;Rocket Internet has a proven track record of rapidly developing successful operations in the online and e-commerce sectors. Millicom has a strong know-how of operating in the fast-moving consumer goods industry in Latin America and Africa… We believe that online services in emerging markets have the potential to go beyond the convenience they successfully brought in developed markets.&#8221;</p></blockquote>
<p>And yes, the two holding companies are working on Rocket&#8217;s payments services. Payleven, the Square clone, is already <a href="http://www.rocket-internet.de/ventures?brazil/54">listed</a> as being operational in Brazil.</p>
<p>Will Paymill be close behind? Maybe, maybe not.</p>
<p>Stripe and Paymill make the most sense for new sites that aren&#8217;t already plugged into a more complex payments system, and the emerging markets are, by nature, fertile ground for this. Then again, these services will thrive best in a credit-card culture. What makes sense in the U.S. market may not actually be primed for internationalization just yet.</p>
<p>As I&#8217;ve said before and will doubtless say again, Rocket is yet to prove itself when it comes to anything other than straight e-commerce. But that doesn&#8217;t mean it&#8217;s not trying. If there really is an international market for this stuff, the Samwers will probably be the first to nail it.</p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=552711&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=315817"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=315817" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=552711+rocket-apes-stripe-and-takes-its-clone-factory-to-new-countries&utm_content=superglaze">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2010/12/google-and-the-ghost-of-silicon-valley-past/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=552711+rocket-apes-stripe-and-takes-its-clone-factory-to-new-countries&utm_content=superglaze">Google and the Ghost of Silicon Valley Past</a></li><li><a href="http://pro.gigaom.com/2012/12/connected-consumer-2013-how-2012-laid-the-groundwork-for-change/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=552711+rocket-apes-stripe-and-takes-its-clone-factory-to-new-countries&utm_content=superglaze">How consumer media will change in 2013</a></li><li><a href="http://pro.gigaom.com/2012/10/social-third-quarter-2012-analysis-and-outlook/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=552711+rocket-apes-stripe-and-takes-its-clone-factory-to-new-countries&utm_content=superglaze">Social third-quarter 2012: analysis and outlook</a></li></ul>]]></content:encoded>
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		<media:thumbnail url="http://gigaom2.files.wordpress.com/2012/08/paymill.jpg?w=150" />
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			<media:title type="html">Paymill</media:title>
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		<media:content url="http://0.gravatar.com/avatar/6599daccfd7e897e68744fe0065e5a2e?s=96&#38;d=retro&#38;r=PG" medium="image">
			<media:title type="html">superglaze</media:title>
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		<title>Rocket may clone Stripe to beef up payments portfolio</title>
		<link>http://gigaom.com/2012/07/12/rocket-may-clone-stripe-to-beef-up-payments-portfolio/</link>
		<comments>http://gigaom.com/2012/07/12/rocket-may-clone-stripe-to-beef-up-payments-portfolio/#comments</comments>
		<pubDate>Thu, 12 Jul 2012 12:42:57 +0000</pubDate>
		<dc:creator>David Meyer</dc:creator>
				<category><![CDATA[Berlin]]></category>
		<category><![CDATA[Billpay]]></category>
		<category><![CDATA[Clones]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[PayLeven]]></category>
		<category><![CDATA[Samwer Brothers]]></category>
		<category><![CDATA[Stripe]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=541935</guid>
		<description><![CDATA[Rumors suggest the Samwer brothers are prepping a clone of hot payments startup Stripe to add to their copies of Square and BillMeLater - though it remains to be seen whether this would be a quick-sale ploy or a long-term play.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=541935&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p>Germany&#8217;s notorious clone specialists, the Samwer Brothers, have <a href="http://gigaom.com/europe/the-samwers-are-trimming-their-portfolio-heres-why/">yet to prove themselves</a> in developing long-term businesses that are outside their traditional strengths in e-commerce. But it&#8217;s looking more and more like their Rocket Internet incubator is determined to firm up its foray into one of those other markets, however: payments.</p>
<p><a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/stripe2/" rel="attachment wp-att-541363"><img src="http://gigaom2.files.wordpress.com/2012/07/stripe2.jpg?w=300&#038;h=155" alt="" title="stripe2" width="300" height="155"  class="alignright size-medium wp-image-541363" /></a>The Samwers already have Billpay, a <a href="http://gigaom.com/europe/kinnevik-cosies-up-to-rocket-again-in-billpay-round/">BillMeLater copy that offers secure online payment facilities</a>, and they also recently <a href="http://gigaom.com/europe/rocket-swipes-double-digit-millions-for-square-clone/">cloned Square</a> with PayLeven.</p>
<p>Now reports suggest their next target is to produce a copy of <a href="http://www.stripe.com">Stripe</a>, one of the <a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/">hottest payment startups out there</a>. The rumor comes from sources quoted by the German publication <a href="http://www.gruenderszene.de/news/stripe-klon-rocket-internet">Gruenderszene</a>.</p>
<p><a href="https://stripe.com/">Stripe</a> is not a million miles away from Billpay, but its big selling point is simplicity. Whereas Billpay&#8217;s offering involves direct debit and instalments, Stripe aims to provide an Amazon Web Services-like experience for developers, with an API that allows for very quick deployment.</p>
<p>Most importantly, Stripe &#8212; less than a year old &#8212; is <a href="http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/">apparently</a> already valued at half a billion dollars. This is the kind of number that gets the Samwers&#8217; attention.</p>
<p><a href="http://gigaom.com/2012/01/25/now-samwer-bros-clone-fab-and-target-european-rollout/samwers-tall/" rel="attachment wp-att-475718"><img src="http://gigaom2.files.wordpress.com/2012/01/samwers-tall.jpg?w=300&#038;h=200" alt="" title="samwers-tall" width="300" height="200"  class="alignleft size-medium wp-image-475718" /></a>Right now Stripe is U.S.-only. As we saw just yesterday with <a href="http://gigaom.com/europe/clones-meet-their-maker-samwers-join-care-com-in-acquisition/">the sale of Betreut to the service it copied, Care.com</a>, Rocket specializes in cloning services that have just been too slow to roll out to Europe, south-east Asia, South America or Africa, and offering the same sort of service to those previously denied a look-in (see also the sales of Alando to eBay and CityDeals to Groupon). To my mind, this is where the cloning debate becomes less black-and-white, as a gap in the market is a gap in the market.</p>
<p>Anyhow, there&#8217;s more than enough reason to believe the Stripe-clone rumour. It may well be a ploy to sell the clone back to the cloned, but let&#8217;s also look and see how the Samwers make the copycat fit in with their existing payments portfolio &#8212; and whether the concept translates as well outside the credit-card-centric U.S. as within. </p>
<br />  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=541935&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" /><p><a href="http://pubads.g.doubleclick.net/gampad/jump?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=439941"><img src="http://pubads.g.doubleclick.net/gampad/ad?iu=/1008864/GigaOM_RSS_300x250&#038;sz=300x250&#038;c=439941" /></a></p><p><strong>Related research and analysis from GigaOM Pro:</strong><br />Subscriber content. <a href="http://pro.gigaom.com/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=541935+rocket-may-clone-stripe-to-beef-up-payments-portfolio&utm_content=superglaze">Sign up for a free trial</a>.</p><ul><li><a href="http://pro.gigaom.com/2010/12/google-and-the-ghost-of-silicon-valley-past/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=541935+rocket-may-clone-stripe-to-beef-up-payments-portfolio&utm_content=superglaze">Google and the Ghost of Silicon Valley Past</a></li><li><a href="http://pro.gigaom.com/2011/12/will-cloud-computing-push-the-bric-market-to-the-front/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=541935+rocket-may-clone-stripe-to-beef-up-payments-portfolio&utm_content=superglaze">Will cloud computing push the BRIC market to the front?</a></li><li><a href="http://pro.gigaom.com/2011/12/facebooks-tactical-retreat-on-privacy/?utm_source=europe&utm_medium=editorial&utm_campaign=auto3&utm_term=541935+rocket-may-clone-stripe-to-beef-up-payments-portfolio&utm_content=superglaze">Facebook&#8217;s tactical retreat on privacy</a></li></ul>]]></content:encoded>
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		<title>Is hot payment startup Stripe worth half a billion?</title>
		<link>http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/</link>
		<comments>http://gigaom.com/2012/07/10/is-hot-payment-startup-stripe-worth-half-a-billion/#comments</comments>
		<pubDate>Wed, 11 Jul 2012 00:50:27 +0000</pubDate>
		<dc:creator>Ryan Kim</dc:creator>
				<category><![CDATA[commerce]]></category>
		<category><![CDATA[online payments]]></category>
		<category><![CDATA[Stripe]]></category>

		<guid isPermaLink="false">http://gigaom.com/?p=541249</guid>
		<description><![CDATA[ Stripe, which launched its service less than ten months ago, is now valued at hundreds of millions of dollars after a new funding round of $20 million. The company has built a big following with its simple payment platform that lets developers easily add payment services.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=gigaom.com&#038;blog=14960843&#038;post=541249&#038;subd=gigaom2&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
				<content:encoded><![CDATA[<p><a href="http://gigaom2.files.wordpress.com/2012/07/stripe.jpg"><img  title="stripe" src="http://gigaom2.files.wordpress.com/2012/07/stripe-e1341961198147.jpg?w=300&#038;h=211" alt="" width="300" height="211" class="alignleft size-medium wp-image-541362" /></a>By now, we&#8217;ve gotten used to bubbly tales of startups raising gobs of money at sky-high valuations. The latest is online payment provider <a href="http://stripe.com">Stripe</a>, a company that launched its service less than ten months ago and is now said to be <a href="http://techcrunch.com/2012/07/09/sexy-payments-startup-stripe-swipes-20m-from-general-catalyst-sequoia-thiel-and-more/">worth up to half a billion dollars</a> after a new funding round of $20 million.</p>
<p>The truth is, the valuation is actually in the hundreds of millions, not quite half a billion dollars, according to people I&#8217;ve talked to. But it&#8217;s still a big number for a company that has been working largely in stealth mode and has yet to release any firm customer metrics. And it&#8217;s going against big names like PayPal, Visa and Braintree, which is <a href="http://gigaom.com/2012/04/13/braintree-quietly-making-sure-startups-get-paid/">already a favorite of many developers</a>. So is Stripe worthy of the acclaim?</p>
<p>The short answer is: it may not be worth $500 million now but it probably won&#8217;t be long before it is.</p>
<p>The company, which has raised $40 million to date, is gaining great word of mouth in the startup community for its payment system. Stripe has created a very simple, next-generation platform for developers, who can deploy payments as if they were hooking up to Amazon Web Services or telephony provider Twilio. Stripe&#8217;s developer-friendly product has won over thousands of developers and emerging entrepreneurs, who are able to start taking payments in minutes. The company counts Foursquare, Shopify, 10gen, Fast Company and many others among its customers.</p>
<p>Stripe users don&#8217;t have to worry about storing cards, PCI compliance, supporting different card types or dealing with banks. They just work with Stripe&#8217;s API and they&#8217;re up and running.</p>
<p>&#8220;Amazon Web Services was interesting not just because it had better infrastructure necessarily. But by making it so easy and so flexible to build services, different things get built,&#8221; said Patrick Collison, who co-founded Striple along with his brother John. &#8220;We hear from users that because everyone on their team can use Stripe and because we handle so much stuff for them, we make it easy to launch things and experiment and they end up with different and better products.&#8221;</p>
<p><a href="http://gigaom2.files.wordpress.com/2012/07/stripe2.jpg"><img  title="stripe2" src="http://gigaom2.files.wordpress.com/2012/07/stripe2.jpg?w=300&#038;h=155" alt="" width="300" height="155" class="alignright size-medium wp-image-541363" /></a>Early investor Ron Conway said at a technology conference in May that Stripe was one of his favorite startups, high praise from a man backing hundreds of companies. &#8220;Stripe allows any developers on the Internet, almost through a point and click interface, to enable credit cards on their website,&#8221; he said at the time. &#8220;It allows people to monetize immediately.&#8221;</p>
<p>He&#8217;s just one of many big name backers who are staking money on Stripe. General Catalyst led Stripe&#8217;s latest round with follow-ons from existing investors Sequoia and PayPal co-founder Peter Thiel. Redpoint Ventures, Chris Dixon and Box CEO Aaron Levie have also joined as new investors. PayPal co-founders Max Levchin and Elon Musk were also early investors.</p>
<p>Stripe is going up against some established players but the startup doesn&#8217;t necessarily see itself in competition with PayPal or Braintree. Collison said Stripe has been steadily winning business from new startups and businesses and doesn&#8217;t need to steal customers to be a success. That&#8217;s because the nature of online commerce is shifting rapidly and opening up new opportunities in the U.S. and abroad.</p>
<p>Now, thanks to platforms like Shopify and Etsy, there are thousands of creators that are launching their own online stores. Mobile is expanding the ability for online commerce to happen anywhere, at any time. And the rise of peer-to-peer start-ups like Uber and Airbnb are also opening up new business opportunities that didn&#8217;t exist ten years ago.</p>
<p><a href="http://gigaom2.files.wordpress.com/2012/07/stripe3.jpg"><img  title="stripe3" src="http://gigaom2.files.wordpress.com/2012/07/stripe3.jpg?w=300&#038;h=145" alt="" width="300" height="145" class="alignleft size-medium wp-image-541364" /></a><span style="color: #ff0000;"><span style="text-decoration: line-through;"><br />
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<p>One of the biggest hurdles to realizing Stripe&#8217;s vision is the fact that it&#8217;s limited to the U.S. at present. The company has heard a chorus of requests from developers around the world who are waiting for their country to get Stripe support. Stripe last week launched a beta program in Canada, but there&#8217;s no time table for bringing the service to other countries. Collison said Europe is likely the next target after Canada.</p>
<p>Stripe could still hit a rough patch if the startup ecosystem collapses and the bubble bursts. But Stripe isn&#8217;t just focused on serving Silicon Valley, said Collison. He believes there&#8217;s a huge opportunity in facilitating transactions around the world.</p>
<p>&#8220;The overall market is growing so quickly we’d be totally fine if just only new businesses got started on Stripe,&#8221; Collison said.</p>
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