Stripe is giving off early Google vibes—for good and for bad

Good morning, finance editor Jeff John Roberts is covering the story instead of Allie. Remember when Google made a big acquisition spree in the early 2000s, picking up companies like DoubleClick, AdSense, and the creators of Google Earth, Android, and YouTube? That shrewd move helped Google become one of the dominant global companies.

Stripe has been on a similar shopping spree, acquiring crypto firms Privy and Bridge, an account verification and bank transfers company called Ourum, and a usage-based billing firm called Metronome, as well as AI distribution service OpenRouter worth approximately $7.5 billion. With all these acquisitions, Stripe is consolidating its lead in the payments sector and building capacity in blockchain and AI.

This is similar to Google's strategy back then. However, a deal with PayPal fell through recently due to its share price increasing, making Stripe's offer look too low. Stripe's acquisitions could be a good thing, but it's hard to predict their success. Google's past acquisitions, like DoubleClick and YouTube, were successful, but others, like Yahoo's, ended poorly.

Stripe has a knack for public relations, maintaining a likable image despite its growth, and has avoided unforced errors. Antitrust concerns are also a potential issue, but Stripe is not yet at that scale. For now, Stripe can enjoy its current position of power and likability.