Print BusinessNewsLimerick brothers have no plans to cash in on billion euro firmBy Editor – January 24, 2014 735 WhatsApp Email Patrick and John Collison of StripeLimerick entrepreneurs Patrick and John CollisonLIMERICK brothers Patrick and John Collison have no plans to cash in on the success of their €1.3 billion company and will use a €60 million round of fresh investment raised this week to fund international expansion.From Castletroy and now based in California, the Collisons created Stripe, a low-cost way for small companies to accept online payments, in 2009 and have been steadily building the business since.Sign up for the weekly Limerick Post newsletter Sign Up John (23) and Patrick (25), a former winner of the Young Scientist competition, created an online auction payments company, Auctomatic, which was sold for almost €4 million while they were still in secondary school at Castletroy College.Their latest success story began when they saw how difficult it was for small companies to accept payments from customers online.“We found it really hard in our previous business to accept payment over the internet. It felt like many other people would be having the same problem, so we set about solving it”, explained John.“We started working on Stripe almost two years before it launched publicly. There was a long period where we were writing code to support a small handful of users, and navigating a relatively unfamiliar industry.“We wrote the first lines of code in October 2009. Three months later, we got our first customer. We stayed going, writing code, starting to hire people and trying to find new customers. By the time we launched publicly in September 2011, we had ten people on the team.”Stripe now employs 83 people at its headquarters in San Francisco and the company has become a recognisable name in global ecommerce, with backers such as Paypal founder Peter Thiel and entrepreneur Elon Musk numbered among its investors.Social media giant Twitter is reportedly in discussions with the company over a deal that would allow Twitter enable companies to accept payments on the social media platform.However, Chief executive, Patrick Collison says that they won’t be in a rush to take advantage of the company’s latest valuation.“We’ve no interest in selling the company. John and I are very lucky to work with the people we do on building something for the long term, and we wouldn’t like to change that,” he said.This is also the view of his younger brother who said they were focused on opening international offices and delivering on Stripe’s goal of building an easier way of paying for goods and services online.“It’s still early days for the payment systems that power the internet. It’s outrageously difficult and expensive to move money between countries.“Fraud and storing credentials still cause merchants hassle. So online payments is a great place to go hunting for problems worth solving”, said John. First Irish death from Coronavirus Encourage Wildlife in Castletroy Park Elegant property in Monaleen #LimerickPostProperty Twitter Previous articleNo room at the Mansion House for Limerick manNext article40 jobs from Limerick environmenal firm expansion Editor Shannondoc operating but only by appointment TAGSAutomaticCastletroyElon MuskfeaturedJohn CollisonMusic LimerickPatrick CollisonPeter TheilStripeTwitter Linkedin Advertisement RELATED ARTICLESMORE FROM AUTHOR Facebook Walk in Covid testing available in Limerick from Saturday 10th April No vaccines in Limerick yet
The best of five series against the #4 ranked, River City Rascals, will begin at Bosse Field on Tuesday, September 13 at 6:35pm, followed by Game #2 at Bosse Field on Wednesday, September 14.Game #3 will be at River City on Friday, September 16. Game #4, if necessary, will be played at River City on Saturday, September 17.Game #5 will return to Bosse Field, if necessary, on Monday, September 19 at 6:35pm.Special Playoff Package PricingFans can get tickets for both Games #1 and #2 at one price: General Admission: $8Reserved Pavilion: $12Premium Field Box: $12VIP: $16Kids 10 and under will receive a voucher for a free meal each night. Kids free ticket vouchers can be picked up at any Old National Bank location. (Supplies are limited.)Tickets available at www.evansvilleotters.com or by phone at 812-435-8686 ext. 21. FacebookTwitterCopy LinkEmail The Evansville Otters have advanced to the Championship Series of the Frontier League playoffs with a 3-1 series win against the #2 ranked, Joliet Slammers.
As the Michigan State men’s tennis team celebrated its first Big Ten victory of the season, the Badgers dropped their second consecutive contest at the Nielsen Tennis Center in a grueling 6-1 defeat.Sunday’s match began with a promising start as Wisconsin (8-7, 0-3) earned the doubles point against Michigan State (11-8, 1-3) for the 12th time in 15 matches this season but couldn’t earn another mark on the scoreboard.At the No. 3 position, sophomore tandem Rod Carey and Alex Robles finished first en route to an 8-6 win to give Wisconsin an early lead in doubles play.Coming off a win over the No. 15 doubles duo in the land, the top Badger team of junior captain Billy Bertha and sophomore Fredrik Ask lost just their fourth decision of the year as they fell to Drew Lied and Aaron Pfister of Michigan State 8-6. Junior Alexander Kostanov and sophomore Petr Satral clinched the first point of the match in their 8-6 win.The stunning failure of Wisconsin’s singles matches was the story of the match. Six efforts resulted in six losses, despite four Badgers taking their opponents to third sets. Two of Wisconsin’s losses on Sunday ended in a third set tiebreak losses by Ask and Satral.Assistant coach Joe Bates said the struggles in singles cannot be answered with a single reason.“I think it’s just about confidence,” Bates said. “Just moving forward I don’t think there’s a magic answer to gaining confidence or gaining match experience, but I think even these close losses help.”Carey’s performance looked promising as he found himself up a break early in his first set in the No. 2 position, but he seemed to lose his poise as he was crushed in his second set without winning a single game.Freshman Andy Quirk also dropped his match in straight sets but displayed impressive competitiveness on the brink of defeat, as he won three straight games to tie the second set at five before losing his first match of the season. The freshman was also the only player to win a singles match on Friday against the No. 25 Michigan Wolverines.The freshman explained the team has attempted to gain confidence by becoming more encouraging during matches.“I think we’ve just got to go out there and just play with a lot of energy, try and get ahead early,” Quirk said. “I think sometimes we get up and then we lose focus. I think we’ve just got to keep focusing and just play with a lot of confidence and belief.”The last four matches were decided by third sets, including the two tiebreak defeats of Ask and Satral. Three of the four Badgers were able to fight back into their respective matches after severely losing their first sets. Satral explained that one singles victory will allow him to regain his confidence after Sunday’s defeat.“I just need to win one good match in [a] tiebreak, and I think I will win [the] next one and next one,” Satral said. “So I just need to get [one] good match, then I will be back.”A strategic move by the coaching staff was to relieve Kostanov of his singles duties on Sunday, believing that his absence would create more favorable matchups for the players moving up in the lineup. Kostanov hadn’t sat out of the singles lineup since Jan. 28 in a home win against Western Illinois.The junior’s vacancy effectively forced the rest of the singles players to participate in more difficult matches. Bates knew the decision was a risk.“It was kind of a gamble, and I suppose it didn’t pay off,” Bates said. “We got the right matchups, we thought.”After the winless weekend, Wisconsin’s relentless schedule does not ease up. The Badgers’ next slate of matches includes road tests at No. 15 Illinois and No. 53 Northwestern. Wisconsin has yet to earn their first victory against a ranked opponent and six of the last eight squads Wisconsin will challenge are nationally positioned in the top 75.Bates stressed that the team needs to be prepared to win points in tight situations.“They won the big points,” Bates said. “That’s how it goes, one or two points decides the match … they closed the matches out.”