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Edwin from Stripe here. At first, I think I agree with the title (the article itself, not so much). Stripe isn't really a platform. It's a platform of platforms
by edwinwee 5y ago
Edwin from Stripe here. At first, I think I agree with the title (the article itself, not so much). Stripe isn't really a platform. It's a platform of platforms.
The three products linked to in the article, Invoicing, Payment Links, and Capital, were three of the most requested features from our users. So we built them.
And platforms use all of them to provide these services to their users. Invoicing's smart dunning enables 14% more revenue collection; Payment Links lets businesses get started with payments with no code (and no additional cost!); Capital not only gives businesses instant access to financing that flexes with income — but allows platforms to provide that fast financing to their customers. Since these products were requested by our users, we think they'll be useful for other businesses and their customers too.
The core of Stripe is very much still platform-focused. After all, Stripe's mission is to increase the GDP of the internet. It'd be a bit naive to think that that just means payments processing in today's economy. Starting and running an internet business will always be evolving (and is getting increasingly complex), and Stripe will continue to build the products that our users ask of us.
- the_gipsy 5y ago> Stripe isn't really a platform. It's a platform of platforms. See? It's not a pyramid. It's an inverted funnel!
- fudgy 5y agoHey Edwin, Think it would be reasonable to also simply acknowledge that good small ideas might eventually become features of the platform: << Smaller companies make products that build upon, or fill gaps within, platforms from larger companies. The best of those ideas — ideas that truly would be better “built in”, eventually do get built in. The small innovators need to adapt or die (or get acquired, and become the built-in version) >> from https://daringfireball.net/2021/05/apple_built_in_advantage https://daringfireball.net/2021/05/apple_built_in_advantage
- ldng 5y agoStripe WAS "just means payments processing" and changed course to "increase the GDP of the internet". That is exactly the point of the article.