WordPress-Maker Automattic Sells $50 Million Of Stock In Secondary Offering To Tiger Global

TechCrunch

Automattic, the company behind publishing platform WordPress.com, has sold $50 million in a secondary offering led by investment management firm Tiger Global. The sale will allow some early investors and employees to get cash in exchange for their shares, while adding another stakeholder in the company.

The share offering wasn’t necessary to raise funds for the company, according to Automattic founder Matt Mullenweg. In a blog post, he wrote that the company is “healthy, generating cash, and already growing as fast as it can, so there’s no need for the company to raise money directly.” He also noted that the minority of stockholders who participated in the secondary sale continue to hold on to the vast majority of their shares.

Lee Fixel at Tiger Global led the investment, which follows other high-profile, late-stage deals that the firm has made recently. Those include investments in Eventbrite and SurveyMonkey. Tiger…

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About anthonymanson

I'm a forty six year old male,who own a not for profit Publication.A christian,love God and like to have clean fun. Studied Psychology/Social Work at Stratford Career Institute.What is posted here is free,it is for the quality of life of the public.
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