By Sam Boughedda
Stripe has reportedly cut the internal value of its shares by 28%, according to The Wall Street Journal.
The payments giant's last valuation was $95 billion. Still, according to WSJ sources, the company told employees last week that its internal share price was around $29, compared to the previous valuation, known as a 409A, of $40 per share.
It means Stripe is now valued at approximately $74 billion, according to the WSJ report.
The email reportedly explained that the company's board had approved the lower share price beginning June 30 but did not explain the reasons for the lower valuation.
Private fundraising has slowed down this year due to an uncertain economic environment and a market sell-off, causing startups to cut headcounts and costs.