Why Airwallex CEO Jack Zhang declined Stripe’s $1.2 bn offer?

Jack Zhang turned down Stripe’s $1.2 billion offer because he wanted Airwallex to become a long-term, global financial platform rather than exit early. Despite earning only $2 million in revenue then, he chose the harder path, enduring setbacks, COVID shocks and funding scares to build a company that now reaches $1 billion ARR and an $8 billion valuation.