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Airwallex Founder Reveals Rejecting $1.2B Acquisition Offer from Stripe
BlockBeats News, December 9th, Jack Zhang, Founder and CEO of the payment startup Airwallex, shared that, "In 2018, Stripe proposed to acquire us for $1.2 billion when our revenue was only $2 million. Stripe's offered valuation was 600 times our revenue, and based on the latest Stripe stock price, I could have personally earned over $2 billion. But the team rejected it. Today, we have raised $330 million, with a valuation of $8 billion and an Annual Recurring Revenue (ARR) of $1 billion."
Earlier reports stated that Airwallex raised $330 million in its latest funding round, valuing the company at $8 billion. According to a statement released on Monday, this valuation represents a ~30% increase from the previous funding round six months ago. Addition led this funding round, with participation from Activant, Lingotto, TIAA Ventures, and other institutions.
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