Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How Founders Use Private Secondary Sales Before an Exit
In this episode of The Startup Exit Podcast, Lucas and Luna explore how founders are using private secondary sales to get liquidity years before an M&A or IPO event. With the IPO market still quiet in mid-2026, many pre-IPO companies are facilitating tender offers and structured secondaries. The hosts break down the mechanics, the trade-offs, and the tax implications, using the recent $1.7 billion raise by Travis Kalanick's robotics company as a framing device. They discuss how secondary sales can help founders de-risk while retaining control, and why the math often favors a partial exit…
The skinny
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