Wayve, a UK-based self-driving technology startup, has initiated an $85 million tender offer allowing employees to sell part of their vested equity. This move, backed by existing and new investors, comes at a valuation of $8.5 billion and marks the company's second liquidity event following a similar offering during its Series C funding round in May 2024.
This trend among AI startups reflects a strategic shift towards using employee tender offers as a retention tool, encouraging staff to remain with the company rather than seeking opportunities elsewhere. Other startups, such as Decagon and ElevenLabs, have also engaged in similar offerings, indicating a growing acceptance of this approach in the tech industry.