PrivateTechSharesPre-IPO Liquidity & Secondary Tracker
The most recent real liquidity events in private tech — employee tenders, secondary share sales, buybacks, IPOs and acquisitions — each dated and sourced. We track the journey from private to liquid; an IPO or acquisition row marks the moment a company leaves “pre-IPO.”
| Date | Company | Type | What happened | Status | Source |
|---|---|---|---|---|---|
| 14 Aug 2026 | Anysphere (Cursor) | Acquired | Acquired by SpaceX for $60B in an all-stock deal; no longer independent | Acquired | source ↗ |
| 11 Aug 2026 | OpenAI | Tender | ~$7B employee share buyback at a $852B valuation, ahead of a possible IPO | Completed | source ↗ |
| 22 Jul 2026 | Revolut | Secondary | Fresh employee secondary share sale at a reported $115B valuation | Reported | source ↗ |
| 27 Apr 2026 | Vinted | Secondary | €880M employee secondary at an €8B valuation (no new primary capital raised) | Completed | source ↗ |
| 2 Feb 2026 | xAI | Acquired | Merged into SpaceX in a record all-stock deal; no longer an independent private company | Acquired | source ↗ |
| 27 Jan 2026 | Newfront | Acquired | Acquired by WTW (NASDAQ: WTW) for up to $1.3B; now operates as part of WTW | Acquired | source ↗ |
| 23 Jan 2026 | Brex | Acquired | Agreed to be acquired by Capital One (NYSE: COF) for $5.15B | Acquired | source ↗ |
| 22 Jan 2026 | BitGo | IPO | Listed on the NYSE (BTGO) | Listed | source ↗ |
| 17 Dec 2025 | Trade Republic | Secondary | €1.2B secondary share sale at a €12.5B valuation, led by existing investors | Completed | source ↗ |
| 12 Dec 2025 | SpaceX | Tender | Insider / employee share sale reported at a ~$800B valuation | Reported | source ↗ |
| 24 Nov 2025 | Revolut | Secondary | Completed share sale with employee liquidity at a $75B valuation | Completed | source ↗ |
| 2 Oct 2025 | OpenAI | Secondary | ~$6.6B employee secondary to SoftBank and others at a $500B valuation | Completed | source ↗ |
| 26 Sep 2025 | Checkout.com | Buyback | $12B employee share buyback programme (a second buyback completed within 12 months) | Completed | source ↗ |
| 10 Sep 2025 | Klarna | IPO | Listed on the NYSE (KLAR) | Listed | source ↗ |
| 31 Jul 2025 | Figma | IPO | Listed on the NYSE (FIG) | Listed | source ↗ |
| 12 Jun 2025 | Chime | IPO | Listed on the Nasdaq (CHYM) | Listed | source ↗ |
| 5 Jun 2025 | Circle | IPO | Listed on the NYSE (CRCL) | Listed | source ↗ |
| 28 Mar 2025 | CoreWeave | IPO | Listed on the Nasdaq (CRWV) | Listed | source ↗ |
| 27 Feb 2025 | Stripe | Tender | Tender offer at a $91.5B valuation, liquidity for current & former employees | Completed | source ↗ |
| 17 Dec 2024 | Databricks | Round | $10B financing at a $62B valuation, including employee liquidity | Completed | source ↗ |
How we verify. Every row is confirmed against a company announcement, an exchange listing, or top-tier reporting (Reuters, Bloomberg, Financial Times). We keep the distinction between a completed transaction and one that is reported / underway — a reported insider sale is not proof it has closed. We show the reported valuation; aggregate proceeds and exact settlement dates are often undisclosed and left out rather than inferred. When a company IPOs or is acquired we mark it here and remove it from our sellable pre-IPO company pages. If we can’t source it, it isn’t here — so the list runs shorter than it could, on purpose. See which companies actually run liquidity programmes in the Liquidity Heat Index.