Where tech workers are finding new buyers for their private stock with IPO market shut
Summary
Its business credit card, financing, and spending management products are used by start-ups like Boxed and Outdoor Voices, as well as once disruptive start-ups that are now public companies like Airbnb and DoorDash, giving it real-time access into the financial accounts of start-ups. Brex co-founder and co-CEO Henrique Dubugras, speaking on CNBCs "Squawk Box" on Tuesday, said that while the company itself "does not have any IPO plans," it is looking to give employees "some liquidity to weather this storm." "Thats where the majority of compensation comes from in big tech," said Brian Lee, senior analyst of enterprise technology at venture investment and start-up research firm CB Insights. While its unclear if founder Elon Musk may take part in the sale to help fund his acquisition of Twitter, the deal would see SpaceX shares offered at $70 each, valuing the company at around $125 billion. SIGN UP for our weekly, original newsletter that goes beyond the list, offering a closer look at CNBC Disruptor 50 companies, and the founders who continue to innovate across every sector of the economy.