Stripe Inc. has formally targeted the week of June 16 for the pricing of its initial public offering, with the registration statement amendment filed Friday after the close indicating an expected price range of $43–$50 per share — implying a fully-diluted valuation of $128–$148 billion. The amendment also added JPMorgan Chase as a fourth lead bookrunner alongside the previously-disclosed Goldman Sachs, Morgan Stanley, and Allen & Company. The total bookrunning syndicate is expected to comprise 14 firms ahead of the road show.
The implied $138 billion midpoint valuation would make Stripe the largest U.S.-listed fintech debut on record, eclipsing Coinbase's 2021 direct listing at $86 billion and Robinhood's 2021 IPO at $32 billion. The Collison brothers — co-founders Patrick and John — would each retain stakes worth approximately $15 billion at the midpoint pricing. The proposed ticker is "STRI" on the NYSE.
Pricing Mechanics and Comparable Multiples
The implied EV/2026 revenue multiple at the midpoint is 5.7x against Adyen N.V.'s 6.1x and Block Inc.'s 1.8x. EV/EBITDA at the midpoint is 23.2x. Stripe processed $1.4 trillion of total payment volume in 2025 (up 27% YoY) on revenue of $24.2 billion and EBITDA margin of 24.6%. Q1 2026 results, included in the F-1 amendment, showed revenue of $7.1 billion (up 31% YoY) and EBITDA margin expansion to 26.4%, lending credible support to the asking valuation.
Comparable Reactions
Listed peers traded firm in pre-market: Adyen ADRs +1.4%, Block (XYZ) +0.8%, PayPal (PYPL) +1.7%, Fiserv (FI) +1.1%, Marqeta (MQ