Once upon a time, there was a private tech company that bankers thought could be worth as much as $120 billion when it went public. Its potential initial public offering was described in news reports like this one in 2018 as the “most hotly anticipated on Wall Street and Silicon Valley.” Today, it’s worth only about $60 billion. Can you guess the company? 

It’s Uber, although you could be forgiven for thinking it was Stripe. As with Uber back in 2018, the prospect of a Stripe public debut has had Wall Streeters and Silicon Valley types salivating. The payments firm last raised money at a $95 billion valuation, at the start of 2021, and shortly afterward was valued in the secondary market at $115 billion, according to Forbes. Today, though, Stripe is worth only about $60 billion, based on both its own internal valuation and valuations by shareholder Fidelity. At this rate, Stripe’s move to the public market, assuming it eventually occurs, may not be the blockbuster event some investors seem to expect.