Is Cutting Out the Middleman Always the Best Move?
A Look at Stripe’s Success Story
When we hear the term "middleman," it often conjures up negative stereotypes. The phrase "cutting out the middleman" is commonly considered a positive move. But is it always beneficial? Stripe, one of the fastest-growing fintech companies globally, has built its success on being the Internet's middleman. With a valuation of $35 billion, Stripe's journey offers valuable insights into the role a middleman can play in modern business.
Stripe was founded by brothers Patrick and John Collison, who grew up in rural Ireland. Their entrepreneurial spirit was nurtured by their parents, who were also business owners. The Collison brothers started experimenting with web development in their teens, leading to the creation of their first business, Auctomatic, which they sold for $5 million before finishing high school.
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