Tender Offer
topic on 4 shows · 6 statements across 6 episodes
No Priors 
Sourcery 
Capital Allocators 
20VC
6 statements about Tender Offer, every show
Fishner-Wolfson: SpaceX ran employee liquidity tender offers up to twice yearly
“SpaceX always sort of allowed liquidity for their employees and they were running tenders, you know, once a year probably back then. And then that kind of sped up to twice a year. And so like these were always company organized programs.”
Kim: IPO status matters less due to private secondary liquidity options
“Now we're at a place where private companies are very large. They've been staying private for a long time. They're secondary. They're tender offers. There are different ways of getting liquidity back as well. So I sort of look at this trend as larger companies…”
O'Driscoll: Only top 10-20% of unicorns can execute tender offers
“It's only that last 10 or 20% who have, quote, IPO potential who could get a tender done. And what that says, therefore, is for most, I mean, so the consideration, the equity compensation for a lot of these companies is notional and not accessible, right?”
Garrett: Startups use tender offers to remark business valuations
“The companies have compounded past, cash flow positive, they're not burning any cash, they don't need cash in the balance sheet, ah, and so they've been using tenders and liquidity as not just a tool, From an employee retention or recruiting perspective, but a…”
Guo: OpenAI Staff Revolted to Protect $86B Tender Offer Value
“And then I think one thing that is often unsaid, because it's a little bit less idealistic, is that a lot of OpenAI people were very upset this last week about Not just the destruction of the mission, which I think was absolutely, like, genuine, but also destr…”