Stripe is acquiring OpenRouter for $7B, representing a 50x revenue multiple on $140M annualized revenue with 70% gross profit margins and 250 trillion tokens per month throughput.

TheInformation had the scoop last month, but OpenRouter's acquisition by Stripe for $7B was seems all but closed this weekend, 90 days after their $1.3B Series B. Their last revenue number out there was $140m annualized, so this represents a 'standard' 50x multiple for a top tier AI company. What's incredible is the profitability: Although much smaller than Cursor, OpenRouter likely has better economics. Its costs to serve its model-routing product were recently about $40 million on an annualized basis, or 28.5% of its revenue, meaning it was generating $100 million in annualized gross profit. With a roughly 70% gross profit margin, OpenRouter was near the level of high-performing, publicly traded software firms in that regard.... Overall, OpenRouter is facilitating AI model usage at a rate of 250 trillion tokens per month, up from 50 trillion tokens per month in February.

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