Stripe, the global payment processing company, recently announced in its annual letter that it processed a staggering $817 billion in transactions in 2022, up from $450 billion in 2021. The letter also revealed that the company had a net revenue of $11.7 billion in 2022, up from $6.8 billion in 2021.
The growth of Stripe's business can be attributed to several factors, including the continued growth of e-commerce and the increased demand for digital payment solutions. The COVID-19 pandemic also played a role, as more people turned to online shopping and contactless payments in order to reduce the risk of infection.
Stripe's success has also been driven by its focus on innovation and customer service. The company has invested heavily in developing new products and features, such as its recently launched Stripe Climate initiative, which allows businesses to contribute a portion of their revenue to support renewable energy projects.
In addition, Stripe has prioritized customer service, with a focus on providing fast and efficient support to its users. The company's commitment to customer service has helped it to build a loyal user base and has contributed to its rapid growth.
Looking ahead, Stripe plans to continue investing in innovation and expanding its global footprint. The company recently announced that it will be launching in several new countries, including the Philippines, Malaysia, and Vietnam, and it has also announced plans to expand its presence in Europe.
Overall, Stripe's annual letter highlights the company's remarkable success in the payments industry, as well as its commitment to innovation and customer service. As the global economy continues to shift towards digital transactions, it is likely that Stripe will continue to play a leading role in the industry, processing even more transactions and providing new and innovative solutions for businesses and consumers alike.
The number of new customers is up by 19% this year, averaging out to 1,000+ new businesses joining daily. And Stripe also seems to be finding that its resonance with new customers is expanding geographically: While the U.S. is still Stripe’s biggest market, it said that 55% of new customers came this year from other countries. (Stripe’s active in 50 markets currently.)
This is the second year running that the Collisons have published this note (here is the one from April 2022). I’ve been told that they’ve been writing them for years for internal purposes, and so you might think that publishing more openly may speak to building a more public profile. But if that is the case, it’s one that is very well controlled.
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