Should we call MTV to check out Stripe’s new digs in Dubai?
The online payments startup opened its first MENA office in Dubai, just weeks after becoming one of the world’s largest private firms. Stripe, which is a direct competitor of PayPal (PYPL), Square (SQ), and Adyen (ADYEN), is valued at $95b based on its most recent funding round.
But, why the move? In the UAE alone, the e-commerce market is expected to be worth $27.1b by 2022. If you’re thinking you may have contributed a little too much to those numbers… don’t worry, we were all in on the shopping spree together. As Stripe’s software enables businesses to process online payments, we hope you see the connection there!