In the Press
December 6, 2024

IPOs Are So Passé. Here’s How Employees Are Getting Rich Now. (Wall Street Journal)

Professionals
These days, many founders happily avoid the costs, disclosure requirements, scrutiny and regulations of going public. Many big startups are already well funded and famous. The one hitch: Their employees still want to get rich. Private companies have sold more than $6 billion worth of stock in tender offers so far this year, almost double the amount last year, according to Nasdaq Private Market, whose technology helps companies complete the transactions. “It’s become so much more mainstream,” said Jamie Hutchinson, an attorney at Goodwin who helped organize Facebook’s 2009 tender offer, which popularized the maneuver. “It’s now become something employees expect.” Read the article in the Wall Street Journal for more.