Stripe acquires engineers team behind failed database startup

Online payments solution for developers Stripe is acquiring the engineering team behind NoSQL database startup ReThinkDB.

The price of deal is undisclosed but ReThinkDB’s operations will shutter as a result of the acqui-hire.

The company says that it will help Stripe to solve new problems and build infrastructure for developers.

ReThinkDB claims that it was unable to build a sustainable business out of it open-source scalable database for the real-time web.

Its products will now be open-sourced.

The Mountain View-based company had raised $12.2m in total from investors including Andreessen Horowitz, Highland Capital Partners and SV Angel.

The acquisition could allow Stripe to offer new services to its communities of developers.

Copyright © 2016 FINTECH GLOBAL

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.