Digital payments firm Stripe has hired Wall Street banks Goldman Sachs and JP Morgan to explore a public listing and alternatives to allow employees to cash out stakes in the private company, two sources familiar with the matter told Reuters.
The move, communicated to Stripe employees in an internal memo earlier on Thursday, would give them an opportunity to sell shares in the company either to private investors or in a public market, the sources said.
The aim is to have one arrangement or the other in place within a year, the sources said, adding that if private sales are arranged the buyers will cover tax costs. Many companies backed by venture capital that would normally be regarded as mature enough for public listing have postponed such plans, hoping for higher valuations when the market recovers.
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