Stripe CTO David Singleton to Step Down, Start Own Company

David Singleton said in a post on LinkedIn that he is stepping down as chief technology officer (CTO) at Stripe after seven years to start his own company.

Singleton will be succeeded by Stripe Deputy CTO Rahul Patil and will remain at Stripe until October to support the transition, according to the post.

Reached for comment by PYMNTS, Stripe confirmed the CTO transition.

Patil reposted Singleton’s post, adding: “In pursuit of our mission to grow the GDP of the internet, I’m both grateful for and mindful of the trust in me to continue innovating through technology for Stripe’s exceptional users as CTO.”

Singleton did not share details about his own company but said he will start it soon and share details as it comes together.

“When I first reached out to Patrick Collison and Claire Hughes Johnson in 2017 it was not about the possibility of joining Stripe, but rather to ask for advice about a company I was planning to start then,” Singleton said in his post. “While they gave me some great advice about my ideas, I came away *most* excited about joining Stripe’s mission and decided to come onboard. Now, it’s time for me to pick up my startup dreams again and start something new on my own.”

Singleton added in his post that Stripe’s engineering team grew many times over during the last seven years; that the company scaled to handle over $1 trillion per year; and that more than 99.999% of Stripe API requests are successfully processed — with the company handling more than 500 million such requests per day.

“Stripe is better set up to deliver on its mission than ever before,” Singleton wrote. “Our work is important in the world — supporting entrepreneurs and businesses to create innovation and opportunity on a global scale.”

The company has also announced new products and partnerships in recent weeks, including powering the online payments and subscription billing for Australian streaming service Stan; introducing adaptive pricing for businesses in Asia Pacific and Latin America; and acquiring payments processing startup Lemon Squeezy to “scale merchant of record selling in a big way.”