Tiny Startup Supaglue Secures Big Spot in Stripe’s Radar
Supaglue, a budding startup with just four members, has recently made waves in the tech world by catching the attention of industry giant Stripe.
Formerly known as Supergrain, Supaglue is an innovative developer platform specializing in user-facing integrations. Founded in 2021 by George Xing and Thomas Chen, who previously worked with data teams at Lyft and Uber, Supaglue addresses the challenges of managing data and business metrics across teams. Their solution helps companies import and centralize customer data from various sources, enhancing efficiency and decision-making.
Stripe, a leader in online payment processing, made headlines with its undisclosed sum “acqui-hire” of Supaglue’s entire team. This move underscores Stripe’s strategic focus on expanding its Revenue and Finance Automation (RFA) unit, aiming for a $500 million annual run rate. The acquisition reflects the recognition of Supaglue’s expertise in real-time analytics and reporting, which is crucial for advancing Stripe’s RFA suite.
The path to acquisition was paved through mutual acquaintances and serendipitous encounters. Despite being a small startup, Supaglue’s integration work and shared values with Stripe sparked initial conversations. Eventually, Stripe presented an offer that Supaglue couldn’t refuse, marking the beginning of a promising collaboration.
A key synergy between Supaglue and Stripe lies in their shared focus on data management. Supaglue’s expertise in reconciling data from disparate sources aligns seamlessly with Stripe’s vision for a unified data platform. This platform aims to provide actionable insights to users through dashboards, alerts, and real-time analytics, enhancing Stripe’s suite of offerings.
A Busy Year for Stripe
The Supaglue acquisition adds to the flurry of activities at Stripe. This includes employee stock sales and strategic partnerships with startups like Clerk and Navier. As Stripe continues to grow, Supaglue stands ready to seamlessly integrate into Stripe’s ecosystem, contributing to its expansion and innovation initiatives.
As Supaglue becomes part of the Stripe family, the possibilities for advancement and mutual success are boundless.
