David Singleton, Stripe’s chief technology officer, is stepping down after seven transformative years to chase a long-held dream: launching his own company.
Singleton shared his plans on LinkedIn, revealing that he will remain at Stripe until October to ensure a smooth transition, passing the torch to Deputy CTO Rahul Patil.
Stripe confirmed the leadership shift, with Patil expressing gratitude and determination to carry forward Stripe’s mission of growing the internet’s GDP.
Patil noted that he is “both grateful for and mindful of the trust in me to continue innovating through technology for Stripe’s exceptional users as CTO.”
Singleton, who joined Stripe in 2017, reminisced about how his journey began not intending to join the company, but with a quest for advice on starting his venture.
He reflected that Patrick Collison and Claire Hughes Johnson “gave me some great advice about my ideas, but I came away most excited about joining Stripe’s mission.”
Now, the time has come for him to revisit those entrepreneurial dreams.
During Singleton’s tenure, Stripe’s engineering team expanded exponentially, scaling operations to process over $1 trillion annually, with more than 500 million API requests handled daily.
He proudly noted that Stripe’s infrastructure is now more robust than ever, with a remarkable success rate of 99.999% for API requests.
Singleton stated, “Stripe is better set up to deliver on its mission than ever before. Our work is important in the world—supporting entrepreneurs and businesses to create innovation and opportunity on a global scale.”
Stripe, renowned for its swift innovation, recently launched new products and partnerships, including online payments for Australia’s Stan.
Additionally, it introduced adaptive pricing in Asia Pacific and Latin America and acquired Lemon Squeezy to expand merchant of record services.
As Singleton steps into the unknown to fulfill his startup aspirations, Stripe’s future seems equally promising under Patil’s stewardship, ensuring the company’s relentless drive toward shaping the digital economy continues unabated.
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