IBL News | New York
OpenAI plans to sell existing shares in a tender offer led by venture firm Thrive Capital, in a deal that values the San Francisco-based company at $80 million, tripling its valuation in less than ten months, The New York Times reported.
Under this deal, employees will be able to cash out their shares.
Early last year, the venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global agreed to buy OpenAI shares in a tender offer, valuing the company at around $29 billion.
Last January, Microsoft invested $10 billion in OpenAI, bringing its total investment in the San Francisco start-up to $13 billion.
Since then, Anthropic, an OpenAI rival, has raised $6 billion from Google and Amazon. Cohere, a start-up founded by former Google researchers, raised $270 million, bringing its total funding to more than $440 million. Inflection AI, founded by a former Google executive, also raised a $1.3 billion round, bringing its total to $1.5 billion.
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