Dive Brief:
- The payment processing behemoth Stripe has agreed to buy U.S. billing platform Metronome, according to posts Tuesday from the companies.
- Stripe signed a definitive agreement to purchase the smaller company, Metronome CEO and co-founder Scott Woody said in a blog post, although he did not provide financial details or explain the timeline for the transaction. Stripe co-founder and CEO Patrick Collison confirmed the news on the social media platform X.
- "Our space is nascent and evolving quickly, and we needed to know that working within Stripe would help us build even better products, even closer to customer needs," Woody wrote in the post.
Dive Insight:
San Francisco-based Metronome is a tech startup that provides metered billing services to software companies, according to its website.
Billing based on usage rather than on a subscription model appealed to Stripe, company CEO and co-founder Patrick Collison wrote Tuesday on X.
“Metered pricing is the native business model for the AI era,” he said. “As far as we can tell, the associated shift and how businesses generate revenue will be as big as the advent of SaaS,” he added, using the acronym for “software as a service.”
Spokespeople for Stripe did not immediately respond to messages asking when the deal will be finalized or how much the company will pay for Metronome.
The acquisition is just the latest in a number of Stripe mergers in the past few years. Last year the company bought the stablecoin infrastructure platform Bridge for $1.1 billion and the digital sales software firm Lemon Squeezy. The terms of the latter deal were not disclosed.
