Patrick Collison and his brother John are the youngest self-made billionaires in the world.
Patrick is 30 years old while his brother John is 28.
These brothers made a pact to follow one rule – whatever they will accomplish, they will accomplish it together.
While working on projects, they realized the difficulty of accepting payments through the internet.
They wanted to solve this by creating an online payment method that is better and cheaper than others like Paypal.
Stripe was a very ambitious project but they were ready to take the risk even when no one was believing in them.
“Stripe aims to give developers,” Patrick explains to Born Realist, “the tools they need to create the most secure and novel buying experiences.”
The brothers worked for six months to come up with a working prototype.
In two weeks, they were able to secure funding for it.
In just a few months, it became a success!
People switched to Stripe because of the low rates, no fees required for international cards or American Express cards and versatile payment acceptance including Bitcoin and Apple Pay.
“It has taken a ton of work and there’s a good reason that no one has done this before,” Patrick explains to Born Realist.
Since then, Stripe has expanded to over 23 countries striking partnership with companies like Visa, Apple, Alibaba, Twitter, Facebook and Amazon.
Stripe is now worth $20 billion.
"Competition makes us faster, collaboration makes us better"
Posted by Born Realist on Tuesday, 23 October 2018