Gravity Payments: Revenue, Dan Price, & Market Cap
Is it possible to build a thriving business while prioritizing the well-being of its employees? Gravity Payments, a Seattle-based financial services company, has become a fascinating case study in the intersection of business, ethics, and employee welfare, with founder Dan Price at the helm, championing a bold vision that challenges conventional corporate norms.
Founded in 2004, Gravity Payments operates within the custom computer programming & software development services industry, offering credit card processing and financial services. The company, headquartered in the Ballard neighborhood of Seattle, Washington, has carved a niche for itself by focusing on protecting community businesses from being overcharged and underserved by their credit card processing companies. Alternatives to Gravity Payments include established players like Square, Stripe, and PayPal, highlighting the competitive landscape in which the company navigates.
The narrative surrounding Gravity Payments is largely defined by its founder and former CEO, Dan Price, whose decisions and leadership style have drawn both admiration and criticism. In 2015, Price made a landmark decision, introducing a minimum wage of $70,000 for all employees. This move sent shockwaves through the business world and garnered significant media attention. While the company's revenue saw notable increases in the subsequent years, the decision has faced continued scrutiny.
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| Category | Details |
|---|---|
| Full Name | Dan Price |
| Born | (Details not available in the provided content) |
| Nationality | American |
| Education | (Details not available in the provided content) |
| Occupation | Internet Entrepreneur, Former CEO of Gravity Payments |
| Known For | Founder of Gravity Payments, implementing a $70,000 minimum wage for employees. |
| Net Worth (Estimated) | $12 million (as of May 2025) - Estimates vary widely from $3 million to $100 million |
| Career Highlights | Founder and CEO of Gravity Payments, which processed $10.2 billion in payments in 2018. Introduced a $70,000 minimum salary for all employees in 2015. |
| Company | Gravity Payments (Credit card processing and financial services) |
| Market Cap (as of May 12, 2025) | $457.45 million |
| Revenue (Estimated) | $65.6 million annually (Current) - $103.1 million (2024) |
| Employees | 284 |
| Source | Gravity Payments Official Website |
The financial data associated with Gravity Payments paints a picture of a company experiencing growth. In 2024, the company's revenue reached $103.1 million, a significant increase from $40.9 million in the same year. Previous years show a solid increase with $22.4 million in 2023 and $16.2 million in 2021. The estimated annual revenue of $65.6 million, provides a baseline for understanding the company's current financial position. The estimated revenue per employee is $231,000, a figure that offers insight into the company's efficiency and productivity.
Dan Price, who initially drew criticism when he decreased his own salary from $1.1 million to $70,000, still maintains a majority stake in the company. As of May 2025, his estimated net worth stands at $12 million, though sources offer differing estimates. This estimate reflects his success in leading Gravity Payments and his various investments.
The company's operations involve more than just revenue figures. Gravity Payments is classified in the custom computer programming & software development services industry (NAICS code 541511), indicating its technological underpinnings. Furthermore, the company actively seeks to "protect our community businesses from being overcharged and underserved" by credit card processing companies, emphasizing its focus on customer service and value. In 2018, the company processed $10.2 billion in payments, indicating its influence within the financial sector.
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Price's decision to set a $70,000 minimum salary in 2015 was a pivotal moment, and it serves as a turning point in the companys trajectory. According to Price, in the years following this decision, revenue increased, and employees experienced positive life changes. The decision brought the company considerable recognition, with Price named one of the "Voices of 2015" by the Today show. The impact of the decision on employees and the wider business community is still being discussed.
The company's history and development are rooted in the vision of its founder. Price, who first gained notoriety through his wage and salary decisions, claimed that the Gravity Payments board (consisting of himself and his brother and co-founder Lucas) approved his salary. By 2020, Price said that Gravity Payments typically exceeded $4 million in monthly revenue. The rise in revenue and the impact on employee well-being paint a compelling narrative that contrasts with industry norms. Price's journey reflects the complex interplay between business success, ethical considerations, and societal impact.
The current CEO of Gravity Payments is Tammi Kroll, who took over the role in 2022. Kroll's background, as suggested by her experience in areas where hard work is key, highlights a different perspective on the company's operations. With Price remaining a key shareholder, Kroll's leadership will likely be examined in the context of Gravity Payments's future endeavors.
The companys financial performance is constantly in flux, and it is vital to analyze its historical data and progress. Gravity Payments's net revenue was $16 million in 2014. By 2020, monthly revenue usually exceeded $4 million, according to Price. Price said that the company is built to protect our community businesses from being overcharged and underserved by their credit card processing company. It processed $10.2 billion in payments in 2018, in spite of all of this.
Dan Price's story, from an ambitious entrepreneur to a leader who has gained global fame, underscores the dynamic nature of the modern business world. Despite controversy and changing leadership, the company continues to evolve and adapt. Gravity Payments' story exemplifies the challenges and opportunities inherent in creating a business that values both profit and its workforce. The company's journey is a testament to the ongoing discussion about how business can operate and what its role should be in society.
As of May 2025, Gravity Payments has a market capitalization or net worth of $457.45 million. The company's current market standing reflects its continued growth and relevance in the competitive financial services landscape. As Gravity Payments moves forward, the emphasis on its original mission protecting community businesses remains a key differentiator in its business strategy. It is also important to note that, as of May 2025, the company has a market cap of $0.44 billion USD. And, as of our data, the company is the world's 6982nd most valuable.
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