Notion Kicks Off Employee Share Sale At $11 Billion Valuation As AI Accelerates Its Growth |
Productivity software startup Notion told its employees Monday that they can sell some of their shares at an $11 billion valuation ahead of a potential initial public offering, people familiar with the matter told Forbes.
Sequoia Capital, Index Ventures and the Singaporean sovereign wealth fund GIC will purchase the shares, and the deal is expected to be for about $300 million worth of shares, the people said.
The share sale comes after Notion recently passed $600 million in annual recurring revenue, half of which is coming from its artificial intelligence products, and is cash flow positive, the people said. The company is considering multiple rounds of financing in quick succession leading up to an IPO, a current financing trend for later stage startups, like fintech startup Ramp, which closed four financing rounds this year, according to Pitchbook.........