Tiger Global Nears Deal to Sell Slice of Cohere Stake at $3 Billion Valuation
Aug 22, 2023 - theinformation.com
Tiger Global Management is reportedly close to selling a portion of its stake in OpenAI competitor, Cohere, at a valuation of approximately $3 billion. This represents a markup of over 40% from Cohere’s last financing round in June.
The stake being sold is approximately 2.1% of Cohere, valued at around $63 million, which is equivalent to Tiger’s initial investment in the company. After the sale, Tiger will still retain a roughly 5% stake in Cohere.
Key takeaways:
Tiger Global Management is close to selling a portion of its stake in OpenAI rival, Cohere.
The deal values Cohere at approximately $3 billion, a 40% increase from its last financing round in June.
Tiger is selling about 2.1% of Cohere for around $63 million, which is equal to Tiger's initial investment in the company.
After the sale, Tiger will still retain a roughly 5% stake in Cohere.
