Uber are once again offering some of it's employees who hold shares in the company the chance to turn their initial investments into cash. The ride-hailing giants are ready to launch another tender offer that will allow stock sales of around $500 million to change hands. According to a report in recode, a new investor will be stepping on board looking to purchase some of the shares. New investor, Hedge fund Coatue Management, will join already investors Altimeter Capital and TPG in purchasing stock which will be sold at a $62billion valuation, a share price of $40. Unlike Uber's last "tender offer" which saw Japanese giants SoftBank purchase a large stake in the ride-hailing firm, this time around the deal is focused on cashing out employees.
Current employees will have priority of sale over any investors who may wish to also part ways with any stock. Due to so many investors wanting to sell their shares during the last tender offer, many were left unable to sell the amount they had hoped, but this time around "Uber loyalists" who were some of the first to purchase shares in the company at its early stage will have the opportunity to make a nice profit. A deal seeing a huge hedge fund like Coatue onboard in exchange for lots of smaller investors will help clean up Uber's investor portfolio and make things easier to move forward with its IPO in 2019.