I’m thrilled and humbled to share that TaxJar has entered into an agreement to be acquired by Stripe, a global technology company that builds economic infrastructure for the internet.
We started TaxJar eight years ago because we knew that sales tax compliance was a complex, unsolved problem that was only going to get harder as more commerce moved online. We set out to remove barriers to compliance so our customers and partners could focus on what they do best: driving innovation, finding opportunities, and creating growth.
From working closely with Stripe over the last five years, it’s clear that we share a vision for providing software tools that make it easier to start, run and grow an internet business. Stripe is the payments and revenue platform of choice for millions of businesses around the world, from brand new startups to category leaders like Shopify, Zoom, and Salesforce. As Stripe continues to expand its breadth of product offerings, TaxJar brings years of experience and expertise making tax compliance effortless for businesses of all sizes.
Eight years in, we now help more than 23,000 businesses like yourself become and remain compliant. Companies like Curology, Misfits market, Big Cartel, Jane.com and more rely on TaxJar… and we’re just getting started. We’ve helped emerging and established online businesses alike understand economic nexus and reconcile transaction reports from multiple ecommerce channels. We’ve saved finance leaders time by providing automated sales tax filing and remittance. And, as a result, we’ve seen our customers’ and partners’ businesses grow exponentially over the past eight years.
At the same time, the internet economy is increasingly global, while sales tax compliance, especially in the US, is more complex than ever. We know that for any business selling online today, accurately tracking, calculating, reporting, and filing taxes is a huge burden. Managing sales tax is not only difficult and time consuming, it can also inhibit expansion plans, fundraising, or public company readiness.
Our Path Forward: Accelerating the Future of Commerce and Compliance
Turns out, we weren’t the only ones who understand how critical compliance is to sustained, healthy growth in online commerce. Some of you may know that TaxJar launched its first integration with Stripe in February 2016. As a company that provides critical financial infrastructure for the internet, Stripe is keenly aware of the compliance burden that sales tax can pose for entrepreneurs and enterprise users alike.
This acquisition is the culmination of not only a close technology partnership between Stripe and TaxJar, but also a shared sense of purpose. Our teams are inspired by solving meaningful, hard challenges for online businesses – and we’re optimistic about what we can accomplish with the entire TaxJar and Stripe teams working together.
How This Acquisition Will Work
Existing TaxJar users won’t see any immediate changes: our products will continue working for you as they always have. You can expect the same level of support and reliability that you’ve come to rely on. We’ll iterate on how best to integrate parts of TaxJar with Stripe over time. For now, though, we will continue to build independently.
We’ve always prioritized providing an intuitive, customer-focused product, backed by best-in-class customer service. TaxJar will remain relentlessly focused on taking care of our customers’ needs, including maintaining our 99.99% uptime and providing award-winning customer service. If you’re a current TaxJar customer or partner, you don’t need to make any changes to your account—everything will be business-as-usual for you. (If you’re not a customer or partner yet, please come join us!)
For Stripe users, we’re excited to explore ways to integrate better sales tax tools into the Stripe platform, with our technology as the foundation. Stay tuned!
However you’ve shared in the TaxJar journey to date—whether as a valued customer, employee, partner, or vendor—we are so grateful to have had you along for the ride. We wouldn’t have made it this far without you and we look forward to continuing to serve you. I’m incredibly excited about combining Stripe and TaxJar (read the full press release) —and I hope you are too. I am continuously humbled by and proud of the caliber of people and teams we have been able to work with along the way, and I look forward to continuing into this next phase together.
TaxJar. In Pursuit of Better.