Source: International Business Times
The transaction provides liquidity to employees who have accumulated valuable equity in one of the world's most valuable private companies but have had limited opportunities to sell those holdings. Reuters OpenAI has completed a roughly $7 billion secondary share sale, allowing current and former employees to cash out some of their holdings as the ChatGPT maker moves closer to a potential initial public offering. The tender offer valued OpenAI at $852 billion, unchanged from the valuation it secured during its massive funding round earlier this year.
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