Stripe acquires payment processing startup Lemon Squeezy
Stripe acquires Lemon Squeezy, a 4-year-old competitor specializing in global sales tax for digital products. Terms were not disclosed.
Stripe has acquired Lemon Squeezy, a four-year-old startup that calculates and pays global sales tax for digital products. The deal's terms were not disclosed, but Stripe's CEO Patrick Collison and Chief Product Officer Will Gaybrick expressed their excitement about the acquisition on social media.
JR Farr, co-founder and CEO of Lemon Squeezy, noted that the company received several acquisition offers and Series A term sheets but chose Stripe as their partner. Farr mentioned that Lemon Squeezy surpassed $1 million in annual recurring revenue nine months after its public launch in 2021.
Previously, Stripe also acquired other companies, such as the four-person team from Supaglue in March and Okay, a low-code analytics software startup, last summer. These acquisitions demonstrate Stripe's ongoing efforts to enhance its capabilities and expand its product offerings.