Stripe Inc., the payments processor that is one of Silicon Valley’s most valuable startups, has hired JP Morgan and Goldman Sachs to advise it on either taking the company public or allowing employees sell shares in a private-market arrangement, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The company, which was founded by Patrick and John Collison, brothers from Tipperary, Ireland, was valued at $95 billion in its last funding round two years ago and offers payment for companies including Shopify SHOP and InstaCart. The founders told employees on Thursday that executives have set a time frame of one year to make a decision, the paper reported. A deal of that magnitude is expected to help revive the moribund IPO market. The Renaissance IPO ETF IPO has fallen 36% in the last 12 months, while the S&P 500 SPX has fallen 8%.
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