Why Private Companies Offer Secondary Stock Sales
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HubSpot (@HubSpot) went public at $800M. Today that's a pre-seed territory. Nicolas Sharp (@nicolasosharp), Founder & CEO of Attio (@attio), on why secondaries became a standard: "Private companies are staying private longer. That 800 million valuation these days could be very early in a company's life cycle. In many cases like Stripe (@stripe), an IPO doesn't even seem like it's on the horizon." Employees need liquidity. Big tech has always had it. "You need a mechanism to compete against big tech that obviously has very liquid stock. It's sort of a necessity."
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