PANews reported on December 9th that Jack Zhang, founder and CEO of enterprise payments and financial platform Airwallex, revealed that Stripe offered $1.2 billion to acquire Airwallex back in 2018. At that time, the company's annual revenue was only about $2 million, corresponding to a valuation of approximately 600 times its revenue. Based on the offer at the time, Zhang's potential personal gain could have exceeded $2 billion, but the team ultimately chose to decline. The company's recurring revenue (ARR) has now reached $1 billion, and its latest funding round raised $330 million, increasing its valuation to $8 billion.PANews reported on December 9th that Jack Zhang, founder and CEO of enterprise payments and financial platform Airwallex, revealed that Stripe offered $1.2 billion to acquire Airwallex back in 2018. At that time, the company's annual revenue was only about $2 million, corresponding to a valuation of approximately 600 times its revenue. Based on the offer at the time, Zhang's potential personal gain could have exceeded $2 billion, but the team ultimately chose to decline. The company's recurring revenue (ARR) has now reached $1 billion, and its latest funding round raised $330 million, increasing its valuation to $8 billion.
Airwallex founder says he rejected Stripe's $1.2 billion acquisition offer.
PANews reported on December 9th that Jack Zhang, founder and CEO of enterprise payments and financial platform Airwallex, revealed that Stripe offered $1.2 billion to acquire Airwallex back in 2018. At that time, the company's annual revenue was only about $2 million, corresponding to a valuation of approximately 600 times its revenue. Based on the offer at the time, Zhang's potential personal gain could have exceeded $2 billion, but the team ultimately chose to decline. The company's recurring revenue (ARR) has now reached $1 billion, and its latest funding round raised $330 million, increasing its valuation to $8 billion.
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