Online verification company ID.me has seen an increase in its valuation following the completion of a tender offer that has placed the company's worth at $1.8 billion, Bloomberg News reported, citing people familiar with the matter. This marks a slight increase from its previous valuation of $1.73 billion, which was established two years ago.
The tender offer was led by Ribbit Capital, which has recently become an investor in ID.me. The transaction also saw participation from existing investors, including Viking Global Investors and CapitalG. This financial move enabled certain employees and early backers of the company to sell their shares.
The details of the tender offer were not disclosed by representatives for ID.me and Ribbit Capital, as they have not responded to requests for comments on the matter. The news of the planned tender offer was first reported by Bloomberg last month, which has now been finalized according to a source with knowledge of the situation.
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