Company to sell existing shares in ‘tender offer’ led by venture firm Thrive Capital, in similar deal as early last year
Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80bn or more, the New York Times reported on Friday, citing multiple people with knowledge of the deal.
The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Employees will be able to cash out their shares of the company rather than a traditional funding round, which would raise money for the business, the report added.
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Company to sell existing shares in ‘tender offer’ led by venture firm Thrive Capital, in similar deal as early last year
Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80bn or more, the New York Times reported on Friday, citing multiple people with knowledge of the deal.
The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Employees will be able to cash out their shares of the company rather than a traditional funding round, which would raise money for the business, the report added. Continue reading…Technology | The Guardian