Stripe Annual Update

Written by

Arjun Ram

Date published

Apr 5, 2023

Fascinating statistics about commerce on the internet from Stripe. Some highlights from their annual update

Collectively, businesses built on Stripe processed more than $817 billion in total volume in 2022, up 26% from the prior year.
More than 100 companies now handle more than $1 billion in payments with Stripe every year.
In total, the number of new businesses coming to Stripe increased by 19% in 2022, with an average of more than 1,000 new ventures launched every day. While the US is currently our largest market, 55% of the businesses that joined Stripe last year were based outside of the US. Stripe now supports businesses in more than 50 countries.
According to the US Census, the rate of business formation has increased by 44% since 2019. Delaware, similarly, saw 24% more incorporations in 2022 than in 2019.
Stripe Atlas, our service for helping startups get off the ground, saw a remarkable 155% more new companies started in 2022 than in 2019.
As a consequence of tightening conditions, we are seeing startups monetize earlier and in more way
Knowledge workers will become more productive. Labor-intensive tasks, from quality assurance to bookkeeping, will see more automation
In the three years before the pandemic, 63% of the new breakouts that we saw in the San Francisco Bay Area were based in the city of San Francisco itself. Since 2020, only 46% have been
In order, the top startup hubs in the US are: the Bay Area, New York, Los Angeles, Miami, and Austin. Miami's growth has indeed been quite striking in our data: detected breakout companies are up by 89% in 2021/2022 as compared to 2016/2017.
Outside the US, the top hubs in our data are (in order): London, Singapore, Paris, Tokyo, and Toronto. (Of these, Tokyo is growing fastest on a relative basis.) French entrepreneurial dynamism particularly stands out: the top three countries are the US, the UK, and France.
Stripe grew up with companies in the technology sector, and we're increasingly their platform of choice— we power 75% of the 2022 Forbes Cloud 100 and many of the largest internet companies, from Amazon to Zoom
We focus on two key metrics: conversion rate (the fraction of user sessions that complete a purchase) and authorization rate (the fraction of attempted transactions that actually succeed).
In 2022, we reviewed thousands of checkout flows from businesses around the world. We found that 95% contained five or more unforced errors—barriers like asking customers to painstakingly scroll through dates to input card expiry.
Our API reliability is now consistently in excess of 99.999%, and, during the peak week of Black Friday and Cyber Monday, exceeded six nines (that is, 99.9999%)—the equivalent of around 600 milliseconds of unavailability. (It takes about 300 milliseconds for a human to blink.)
Stripe now comprises more than 50 million lines of code. Each change is verified within 15 minutes by running a battery of tests that would take 50 days to run on a single CPU
In 2022, we deployed our core payments APIs 5,978 times (16.4times a day on average). 1,100 of those deploys failed to meet our acceptance criteria, and were rolled back automatically.

Written by

Arjun Ram

Date published

Apr 5, 2023

Fascinating statistics about commerce on the internet from Stripe. Some highlights from their annual update

Collectively, businesses built on Stripe processed more than $817 billion in total volume in 2022, up 26% from the prior year.
More than 100 companies now handle more than $1 billion in payments with Stripe every year.
In total, the number of new businesses coming to Stripe increased by 19% in 2022, with an average of more than 1,000 new ventures launched every day. While the US is currently our largest market, 55% of the businesses that joined Stripe last year were based outside of the US. Stripe now supports businesses in more than 50 countries.
According to the US Census, the rate of business formation has increased by 44% since 2019. Delaware, similarly, saw 24% more incorporations in 2022 than in 2019.
Stripe Atlas, our service for helping startups get off the ground, saw a remarkable 155% more new companies started in 2022 than in 2019.
As a consequence of tightening conditions, we are seeing startups monetize earlier and in more way
Knowledge workers will become more productive. Labor-intensive tasks, from quality assurance to bookkeeping, will see more automation
In the three years before the pandemic, 63% of the new breakouts that we saw in the San Francisco Bay Area were based in the city of San Francisco itself. Since 2020, only 46% have been
In order, the top startup hubs in the US are: the Bay Area, New York, Los Angeles, Miami, and Austin. Miami's growth has indeed been quite striking in our data: detected breakout companies are up by 89% in 2021/2022 as compared to 2016/2017.
Outside the US, the top hubs in our data are (in order): London, Singapore, Paris, Tokyo, and Toronto. (Of these, Tokyo is growing fastest on a relative basis.) French entrepreneurial dynamism particularly stands out: the top three countries are the US, the UK, and France.
Stripe grew up with companies in the technology sector, and we're increasingly their platform of choice— we power 75% of the 2022 Forbes Cloud 100 and many of the largest internet companies, from Amazon to Zoom
We focus on two key metrics: conversion rate (the fraction of user sessions that complete a purchase) and authorization rate (the fraction of attempted transactions that actually succeed).
In 2022, we reviewed thousands of checkout flows from businesses around the world. We found that 95% contained five or more unforced errors—barriers like asking customers to painstakingly scroll through dates to input card expiry.
Our API reliability is now consistently in excess of 99.999%, and, during the peak week of Black Friday and Cyber Monday, exceeded six nines (that is, 99.9999%)—the equivalent of around 600 milliseconds of unavailability. (It takes about 300 milliseconds for a human to blink.)
Stripe now comprises more than 50 million lines of code. Each change is verified within 15 minutes by running a battery of tests that would take 50 days to run on a single CPU
In 2022, we deployed our core payments APIs 5,978 times (16.4times a day on average). 1,100 of those deploys failed to meet our acceptance criteria, and were rolled back automatically.