Stripe, a payment platform, has announced the acquisition of its competitor, Lemon Squeezy, without divulging the purchase price. Lemon Squeezy is a platform designed to solve the backend issues of businesses, with a focus on managing ecommerce taxes for digital products and handling the legal aspects of tax laws in each country where they sell. Targeting a customer base of SaaS software development businesses, Lemon Squeezy has caught the eye of JR Farr, CEO and co-founder, who mentioned that since launching in 2021, the company has received acquisition offers and substantial investment requests. The decision to sell to Stripe was made as they believed Stripe was the most suitable partner to advance their core idea of making digital product sales as easy as possible.
Source: Lemon Squeezy via TechCrunch
TLDR: Stripe acquires Lemon Squeezy to streamline digital product sales, with a focus on ecommerce tax management for SaaS businesses.
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