Airwallex founder says he rejected Stripe's $1.2 billion acquisition offer.

Jack Zhang, founder and CEO of enterprise payments and financial platform Airwallex, revealed in an article that back in 2018, Stripe offered to acquire Airwallex for $1.2 billion. At that time, the company's annual revenue was only about $2 million, corresponding to a valuation of approximately 600 times its revenue. Based on the offer at the time, Zhang's potential personal gain could have exceeded $2 billion, but the team ultimately chose to decline. The company's recurring revenue (ARR) has now reached $1 billion this year, and its latest funding round raised $330 million, increasing its valuation to $8 billion.