secondary share sale

A new wave of tech IPOs is poised to create a generation of employee millionaires, mirroring past Silicon Valley booms. Companies like SpaceX, OpenAI, and Stripe are preparing for public listings, with valuations in the billions, offering significant payouts to their equity-rich staff.

Anthropic employees refused to sell their shares at the $350 billion tender offer earlier this year, and now we know why. The Claude maker has agreed a fresh $30 billion funding round at a $900 billion valuation, the Financial Times reported, nearly tripling its worth in three months. With revenue at $30 billion and an IPO expected by October, staff are sitting on a payday.

New-age insurer Acko, backed by General Atlantic and Accel, is gearing up for its IPO, aiming for an early 2027 launch. The company has appointed Morgan Stanley, ICICI Securities, and Kotak Securities as bankers. Acko targets a valuation of $2-2.5 billion, a significant increase from its previous $1.4 billion. This move comes as India's IPO market navigates global volatility.

China has reportedly instructed leading AI firms to reject American capital, implementing a 'state filter' on funding to prevent sensitive AI breakthroughs from reaching US hands. This directive, aimed at bolstering national security, impacts major players like Moonshot AI and ByteDance, signaling a shift away from reliance on foreign investment.

Elon Musk has dismissed a Bloomberg report suggesting SpaceX is targeting a valuation exceeding $2 trillion for its potential IPO. The article notes SpaceX's confidential IPO filing with the SEC, with a potential June listing. This move would position SpaceX among the largest public offerings in history, despite Musk's denial of the reported valuation.

SpaceX, the world's most valuable private company, has reportedly filed confidentially for an initial public offering. This move brings Elon Musk's rocket and AI firm closer to a potential listing. The company is expected to seek a valuation exceeding $1.75 trillion. This could be the largest IPO in history, with a June listing anticipated.

Indian refiners will hope they can purchase Iranian oil to ease pressure on domestic fuel prices, inflation and rupee. However, it may be easier said than done. With other US sanctions on Iran still intact, there will be issues relayed to payment mechanisms, insurance, shipping and logistics

Taylor Swift and Travis Kelce both had major developments this week. Kelce confirmed his return to the Kansas City Chiefs on a one-year deal while hinting that the couple plans to marry before the team’s training camp begins in mid to late July. At the same time, Swift’s historic Eras Tour reached a resolution in Vancouver after consumer authorities secured refunds for fans who purchased obstructed-view tickets through StubHub.

Flipkart had also recently organised an ESOP repurchase plan -- enabling its former and existing employees to sell their ESOPs and earn over $100 million

Ahead of FirstCry IPO, family offices of Indian cricketer Sachin Tendulkar, Ravi Modi of ethnic wear brand Manyavar, Infosys co-founder Kris Gopalakrishnan, and the TVS group family have invested in the company.

OpenAI is in discussions for a secondary share sale, potentially valuing the company at $500 billion, allowing employees to cash in on their equity amidst intense competition for AI talent. SoftBank is significantly increasing its stake in OpenAI, projecting massive revenue growth and ambitious plans to invest trillions in AI infrastructure.

Zepto is conducting a secondary share sale of over $200 million to boost domestic ownership from 33% to at least 40% before its planned IPO, aiming for 50% eventually. Edelweiss Financial Services and Motilal Oswal Financial Services are buying shares from global investors. Zepto, recently valued at $5 billion, seeks to double its valuation to $10 billion.