Stripe vs Cursor (Anysphere): employee equity compared
Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Stripe and Cursor (Anysphere).
Stripe
Global payments infrastructure.
IPO highly anticipated, likely 2026–2027 given massive scale. One of the most closely watched pre-IPO names in tech.
Recurring revenue model; ISO/NSO options; IPO likely once profitability demonstrated
Cursor (Anysphere)
AI-native IDE built on a fork of VS Code.
IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
High-growth AI play; ISO/NSO options; fast-moving valuations reward timing
Key differences for employees
Equity structure
Stripe grants ISO/NSO with strike prices ranging from $85–$110 depending on your grant year. Cursor (Anysphere) grants ISO/NSO with strike prices from $150–$190.
Secondary market premium
The secondary market is pricing Stripe at a +0% premium over its last primary round ($159B → $159B). Cursor (Anysphere) trades at +0% over its last round ($29.3B → $29.3B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.
Revenue and growth
Stripe runs at $9.5B ARR, growing +34% YoY (solid). Cursor (Anysphere) runs at $2B ARR, growing +500% YoY (hypergrowth). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.
Liquidity timeline
Stripe: IPO highly anticipated, likely 2026–2027 given massive scale. One of the most closely watched pre-IPO names in tech.
Cursor (Anysphere): IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
Calculate your specific grant
Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value at both companies using 4 independent methods.