Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How Founders Build Liquidity Into Their Capital Stack Before an Exit
Episode 62 of The Startup Exit Podcast dives into a strategy that's quietly reshaping how founders and early employees access cash before a formal exit: the liquidity waterfall within the cap table itself. Lucas walks through how companies like Klarna and Stripe have structured 'tender offer rights' into their financing rounds, allowing shareholders to sell shares in private secondary transactions without triggering an IPO clock. Luna raises the tension around valuation — how do you price those shares when the company hasn't traded publicly? Lucas cites NVDA's recent…
The skinny
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