Stripe’s valuation cut is arguably still a relative sign of strength. The privately held payment startup co-founded by brothers Patrick and John Collison said late on Wednesday it raised over $6.5 billion from existing and new investors in a funding round that values it at $50 billion. The newly attained price tag is a 53% cut from its 2021 valuation of $95 billion. And by some metrics Stripe seems to be valued at a discount relative to its publicly listed peers. Stripe’s $50 billion is 3.5 times last year’s gross revenue, while Dutch payment firm Adyen trades on a multiple of 4.7 times.