John Collison, cofounder of Stripe, was raised near Limerick Ireland. Stripe is a company that allows businesses to accept payment by means of the internet. He had the idea for Stripe with his brother Patrick while they were both in college still. They both went to MIT in Cambridge. In September of 2019, the company raised $250 million funding round with a $35 billion valuation. Their first ever payment was processed while both of them were on vacation in South America.
In the beginning of their process, hiring was taking very long to happen and even took a year to get four people. Obtaining their user’s money was difficult for them. So they didn’t accept payments or spending a lot on resources. The brothers thought what they really needed was a solid economic infrastructure. As a small company, it is hard to hire a lot of people at once, or even a normal amount considering visas can get in the way of things. John is on a visa, while his brother Patrick is on a green card. They were mainy looking for a broad market to attack. They launched in Canada, and are were still looking for more countries in 2012.
Sources:
Stripe’s 22-Year-Old Irish-Born Founder Is Just Getting Started | Inc.com
I think John has made a huge impact for businesses for the future because all business want to get rid of the problem of losing papers and staying organized. With a technology being able to track where money goes and have it all organized, employers are not going to hire someone to keep track of the money anymore, this way companies are going to be able to save money that way without hiring someone. Congratulations to this keep for coming up with a product that every business can use to make their lives easier. Great article.