In June Amazon acquired upscale grocery chain Whole Foods for $13.4 billion. On Monday, Amazon (worth more than $430 billion) announced their partnership with Stripe Co, a San Francisco-based startup that allows people and businesses to accept payments over the Internet, making money by charging a small fee on each transaction.
As part of the deal, Stripe will begin handling a large portion of Amazon’s transactions, reports Bloomberg Businessweek. All Amazon had to do was add seven lines of Stripe’s proprietary code to its site to handle payments.
Stripe was founded in 2010 by the Collison brothers (Patrick and John). Seven years in, the company is valued at $9.2 billion, largely because of the Amazon partnership.