Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How Founders Use Tender Offers for Pre-IPO Liquidity
Episode 68 of The Startup Exit Podcast explores how founders are using company-run tender offers to cash out pre-IPO without selling in the secondary market. Lucas and Luna break down the mechanics of a tender offer—how it differs from a standard secondary sale, why it gives founders more control over pricing and timing, and how it affects the cap table. They reference Palantir's 11.2% drop over the past five days as a cautionary tale for founders who wait too long, and note that pre-IPO tender offers have become standard practice at companies like Stripe and SpaceX. The hosts also…
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