Summary of The Untold Story of Stripe, the Secretive $20bn Startup Driving Apple, Amazon and Facebook

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The Untold Story of Stripe, the Secretive $20bn Startup Driving Apple, Amazon and Facebook summary
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If you have ever bought anything on Amazon, subscribed to Spotify or paid for a Lyft ride, you may be surprised to learn that software company Stripe may have processed your payment. Unlike PayPal, the $20 billion startup operates quietly in the background and won’t show up on your credit card bill. In Wired magazine, British journalist Steven Armstrong provides a colorful portrait of the company’s founders and their mission to facilitate e-commerce around the world. 

In this summary, you will learn

  • How the tech firm Stripe is revolutionizing online payment processing and
  • How Stripe is enabling emerging market entrepreneurs to run successful e-commerce businesses. 
 

About the Author

Stephen Armstrong is a freelance journalist based in the United Kingdom. 

 

Summary

Small- and medium-size enterprises contribute up to 40% toward national GDP in emerging markets. E-commerce companies, in particular, have enormous growth potential in emerging economies. Some forecasts predict that 70% of Internet commerce will originate in these markets. While developing countries don’t lack talented entrepreneurs or untapped business opportunities, people trying to set up companies often struggle with the financial side of the business. A case in point are two Egyptian entrepreneurs: Dana Khater, owner of the e-commerce fashion platform Coterique, and Mostafa Amin, founder of the bread delivery company Breadfast. Khater struggled to run a profitable business due to currency exchange volatility. Although she sold her goods in Egyptian pounds, she had to reimburse US-based vendors in US dollars, losing money in the currency exchange. Amin failed to find investors, partly because of the country’s political instability.


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