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Stripe is a highly regarded payment startup.
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It has reduced its internal valuation for a second time, according to people who have been able to verify the method.
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It's currently valued internally at $63 billion.
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The cut brings Stripe's total per-share cost to $24.71, down by 40% from its peak.
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The cut of 11% is the result of an internal valuation cut that took place six months ago that valued the company at $74 billion.
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The change in valuation did not occur due to an upcoming funding round; instead, a 409A price adjustment.
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The 409A valuations are formulated in the hands of third-party investors, meaning that they do not have any connection to what the venture-backing company or any other investors think.
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The company must file 409As at least once every 12 months or whenever a significant event could lower the value of its business.