"In general, they benefit from being private because there's a handful of stocks that people want to buy and they trade at a premium to public valuations," said Larry Albukerk, founder of EB Exchange, which helps facilitate trades in shares of pre-IPO companies.
He said Stripe is part of an exclusive group of private companies, along with SpaceX, Anthropic and Anduril, which are all seeing sky-high demand from investors.
"For every one of those, there's 100 companies that don't get that kind of premium," Albukerk said.