📈 Stripe's New Acquisition
Payments giant Stripe has acquired Lemon Squeezy, a four-year-old startup specializing in payment processing and global sales tax for digital products. The terms of the deal were not disclosed. Lemon Squeezy, founded by JR Farr, primarily serves SaaS and software businesses. Since its public launch in 2021, Lemon Squeezy surpassed $1M in annual recurring revenue within nine months.
🤝 A Strategic Move
Stripe's CEO Patrick Collison shared the news on X, welcoming Lemon Squeezy to the Stripe family. "Welcome @lmsqueezy! We’re going to scale merchant of record selling in a big way." Chief Product Officer Will Gaybrick added, "The Lemon Squeezy team has built an excellent MoR product, and we’re excited to work together with them to help more of you launch to grow!"
🚀 Lemon Squeezy's Journey
JR Farr, Lemon Squeezy's co-founder and CEO, mentioned that his 13-person company received numerous acquisition offers and Series A term sheets from investors. Despite turning down a $50M Series A offer, Farr believed that Stripe was the right partner to take Lemon Squeezy to the next level. "We’re proud to say that we’ve found that partner in Stripe and have gone from idea to acquisition in under three years," said Farr.
🔄 Stripe's Acquisition Spree
This acquisition is not the first for Stripe in recent times. In March, Stripe completed an "acqui-hire" of Supaglue's four-person team. Supaglue, an open-source developer platform for user-facing integrations, raised $6.8M in November 2021. Last summer, Stripe also acquired Okay, a low-code analytics software startup. These acquisitions indicate Stripe's strategic moves to enhance its product offerings and capabilities.
How will Stripe's acquisition of Lemon Squeezy impact the SaaS market?
