Stripe, Inc. provides financial services mainly in the internet transactions niche. Specifically, it has a string of apps and payment platforms that help businesses conduct safe and efficient transactions online. Two Irish brothers, Patrick and John Collison, established the company in 2009, with funding from the likes of Elon Musk and Liam Casey. Currently, it has two headquarters – one in San Francisco, US, and the other in Dublin, Ireland.
Stripe mission and vision are to raise the economic or monetary value of the internet. They plan to go about doing that by spreading their platform as far as possible, thus increasing the number of online transactions and, in turn, raising the internet’s economic value. In short, its mission is to reach a wider target audience, one that encompasses the entire world. Let us try and understand the concept in depth.
Stripe Mission Statement
Stripe mission statement is, “to increase the GDP of the internet.” Consider the most prominent word in the phrase – the abbreviation, GDP (Gross Domestic Product). GDP is usually cited in reference to the economy of a country for a specific time period. For instance, the first-quarter GDP of the UK for the year 2021 fell by about 1.2%, or the GDP of the US has almost always been on a steady rise.
In the mission statement, Stripe is referring to the GDP of the internet. As you might know, the internet cannot be confined to a particular place. It is present almost all over the world. Thus, Stripe is referring to the GDP of the internet on a global scale. And according to the first part of the Stripe mission statement, it plans to ‘increase’ this GDP. But how could a simple payment processor go about doing something so grand?
The answer is simpler still: Stripe can increase the GDP of the internet by promoting its app and raising the number of transactions conducted online. They plan to make every transaction automated; they envision a cashless world. Thus, the Stripe vision statement also remains the same as its mission.
Stripe Core Values
Stripe core values are:
- Move with Urgency and Focus: The company knows that several businesses around the globe depend on it for functioning smoothly. Hence, they always move with urgency and focus to ensure that every transaction occurs without any glitch.
- Think Rigorously: Stripe already has several online transaction platforms in place. It doesn’t mean that they are satisfied with their work. They keep thinking about improving those, while also coming up with newer and better apps on the side.
- Trust and Amplify: The Stripe mission and vision depend on gaining the trust of its clients, and vice versa. But the company tends to trust them implicitly, while always working toward gaining their trust! That is how they have kept expanding over the years.
- Global Optimization: The company resolves individual problems in a way that doesn’t hurt its overall reputation. In short, it always does what is best for the organization.
- The Stripe Service: The Stripe vision statement implies its excellent customer service as well, for how can they grow the internet’s GDP if they cannot satisfy their clients!
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Stripe Mission Statement History
Stripe mission statement remains unchanged through 2020 and 2021