ElevenLabs explores employee stock sale at $22 billion valuation, Bloomberg News reports
ElevenLabs Considers Secondary Share Sale Amid Rapid Growth
July 2 (Reuters) - AI voice generation firm ElevenLabs is exploring a secondary share sale that would allow employees to sell stock, Bloomberg News reported on Thursday, citing people familiar with the matter.
Potential Valuation and Timeline
The proposed transaction could value the company at about $22 billion and is expected to occur by September, the report added.
Trends Among AI Startups
Employee Stock Sales as a Talent Strategy
AI startups engaged in fierce competition for talent have been increasingly letting employees sell stock as they race to retain and attract top researchers and engineers.
About ElevenLabs
Company Background
Founded by Piotr Dabkowski and CEO Mati Staniszewski in 2022, London-based ElevenLabs builds AI tools, including a platform that turns text into realistic speech.
Recent Funding
Series D Round and Previous Valuation
The company raised $500 million in a Series D round in February that valued the company at $11 billion.
Company Response
ElevenLabs declined to comment on the Bloomberg report.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Maju Samuel)