Sequoia Capital has reportedly approached investors with an offer to buy $70 billion worth of Stripe shares.
Sequoia, which first invested in payments giant Stripe 14 years ago, emailed limited partners funds raised between 2009 and 2012 to purchase up to $861 million worth of shares at a price of $27.51. Dollars per share offered Axios.
The offering gives limited partners a chance to secure liquidity as Stripe continues to hold off on a long-touted IPO.
In February, Stripe struck a deal with investors that allowed employees to cash out their shares, valuing the payments company at $65 billion.
The company was valued at $50 billion in a funding round last March, down from $95 billion in 2021.