On Monday, Bloomberg reported that ElevenLabs, a startup specializing in voice - cloning AI technology, is set to permit its employees to sell shares at a valuation of $6.6 billion. This marks a significant doubling of its previous valuation. Back in January of this year, the company successfully closed a funding round worth $180 million, during which it was valued at $3.3 billion.
This share - buyback initiative enables employees who have clocked up at least one year of service at the company to offload shares worth up to $100 million. Leading this transaction are the existing investors Sequoia Capital and Iconiq Growth. Additionally, well - known institutions like Andreessen Horowitz are also taking part in this deal.