Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How Founders Use Tender Offers for Pre-Exit Liquidity
On this episode of The Startup Exit Podcast, Lucas and Luna dive into the mechanics of tender offers — how founders and early employees can sell shares before an IPO without waiting for the lockup to expire. They break down the recent surge in secondary activity, using Palantir's structure as a durable example, and explain how tender offers create a price-discovery mechanism that benefits buyers and sellers alike. They also explore the quiet psychological shift when a founder cashes out early: what it does to motivation, to the cap table, and to the story a company tells its next…
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