It’s an eye-popping valuation — and part of a “private IPO” trend. Hedge funds, mutual funds and big foreign investors are laying down more money, giving companies like Airbnb and Uber the opportunity to raise as much as they would with an IPO — but without the hassles of public disclosures.
“Everyone in [Silicon Valley] sees a narrow window to raise crazy money in the private market,” said Sam Hamadeh, CEO of PrivCo. “The public market would not swallow that sort of valuation.”
Find out more at CNN Money.
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