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Paypal's heirs: Are Stripe, Klarna & Co. the new heroes of the internet?

2021-03-19T07:13:29.281Z


The German banks are in dire straits, young finance companies like Stripe are valued at almost 100 billion dollars. What is behind the new darlings of the global capital market?


An increasing part of the economy is taking place on the internet.

And that means, in simple terms: an ever larger part of the money moves through the Internet.

But who organizes this flow of money, these trillions of dollars and euros?

One thing is clear: the traditional banks would like it, but often fail because of their old technology and their old self-satisfaction.

Three numbers to prove it:

  • Deutsche Bank is currently

    worth

    almost

    22 billion euros

    on the stock exchange

    .

  • Klarna, a 15-year-old financial technology company from Sweden, is

    worth

    $ 31 billion as of

    this month

  • Stripe, just eleven years old, founded by two Irish brothers, has been

    worth

    $ 95 billion

    since mid-March

    .

Who is behind the new money giants?

Why are they so valuable, how will they possibly change our economy - and do the established providers still have a chance at all?

The two mm editors-in-chief Martin Noé and Sven Clausen discuss this with their colleague Christina Kyriasoglou, one of the tech reporters at manager magazin, in this podcast.

Source: spiegel

All news articles on 2021-03-19

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