Oh dear. Not even Stripe is safe from the market downturn and they are cutting their valuation by 28% - from $98B to $74B.
It's extremely early to write them off but perhaps they should have IPO'd in 2019. Since they didn't, they had to wait it out during 2020, 2021, etc. As long as they are profitable, then they will certainly survive this with ease.
But overall, no-one is safe from this and we will see how the market tests the weakest of companies that are not profitable and completely dependent on constantly raising money.
It's extremely early to write them off but perhaps they should have IPO'd in 2019. Since they didn't, they had to wait it out during 2020, 2021, etc. As long as they are profitable, then they will certainly survive this with ease.
But overall, no-one is safe from this and we will see how the market tests the weakest of companies that are not profitable and completely dependent on constantly raising money.