Watch Desk posted an update
Existing investors and employees in speech-generation company ElevenLabs have sold $300 million worth of shares in a tender led by Wellington and T Rowe Price, the Financial Times reports, citing the company. The deal values the startup at $22 billion.
Why it mattersIt gives some early backers and staff a route to cash out while putting a substantial price tag on a company building AI voice software. A tender sale is not the same as ElevenLabs raising $300 million in new funding: the shares came from existing holders.
Discuss: Does a $22bn valuation for an AI voice company look like a credible bet on the market, or a price that will be hard to justify?
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