Anduril opens employee tender at $94.80 a share, valuing it at about $90 billion
- Raised
- $1.3B
- Valuation
- $90B
- Place in VP50
- #3
- Sources
- 3
What happened
Anduril opened a tender offer on October 13, 2026, letting current and former employees sell existing shares at $94.80 each, a price that values the defense technology company at about $90 billion. The offer is capped at about $1.3 billion and is set to close on November 9. Bloomberg reported it on October 14, citing unnamed sources. CNBC reported the same terms that day. The Next Web reported on October 16 that Anduril had declined to comment to Bloomberg and later confirmed the tender and the $90 billion valuation to CNBC.
Staff in 16 countries were eligible for the first time, according to The Next Web; earlier tenders covered only the United States, the United Kingdom and Australia. The shares on offer were existing shares, and Anduril remained private. None of the reports named the buyers. The previous valuation was $61 billion, set in May by a $5 billion round led by Thrive Capital and Andreessen Horowitz, which doubled the company's valuation.
Key points
- Employees can sell shares at $94.80 each, valuing Anduril at about $90 billion.123
- The offer opened on October 13, 2026 and is set to close on November 9.123
- The size of the offer is capped at about $1.3 billion.123
- Staff in 16 countries can participate for the first time; earlier tenders covered the US, UK and Australia.3
- The previous valuation was $61 billion, set by a $5 billion round in May.3
Why it matters
Current and former employees can turn existing shares into cash without a listing, and the pool of eligible staff has widened from three countries to 16.
The tender price implies about $90 billion, against $61 billion from the May round, so holders have a newer and higher mark to refer to.
The reports do not name who is buying. CEO Brian Schimpf told CNBC in July that Anduril was not rushing into an IPO, which leaves tenders as the main liquidity route on record.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series B | Sep 11, 2019 | $1.0B | $127M | Unknown |
| Series C | Jul 1, 2020 | $1.9B | $200M | Andreessen Horowitz |
| Series D | Jun 17, 2021 | $4.6B | $450M | Elad Gil |
| Series E | Dec 2, 2022 | $8.5B | $1.5B | Valor Equity Partners |
| Series F | Aug 8, 2024 | $14B | $1.5B | Founders Fund and Sands Capital |
| Series G | Jun 5, 2025 | $31B | $2.5B | Founders Fund |
| Series H | May 13, 2026 | $61B | $5.0B | Andreessen Horowitz and Thrive Capital |
Updated
Fact-check
- The tender opened on October 13, 2026 and closes on November 9.[3] The Next Web: the offer opened on 13 October and closes on 9 November, per one Bloomberg source. The writer's extract of [1] Bloomberg and [2] CNBC gives the same dates; both pages returned 403 to the checker.Verified
- Employees can sell shares at $94.80 each.[3] The Next Web: shares are priced at $94.80 each; the writer's extracts of [1] and [2] state the same.Verified
- The price values Anduril at about $90 billion.[3] The Next Web: about $90bn; [1] Bloomberg's headline says roughly $90 billion and [2] CNBC's headline says $90 billion.Verified
- The offer is capped at about $1.3 billion.[3] The Next Web: capped at about $1.3bn, according to Bloomberg's sources; the writer's extracts of [1] and [2] state the same.Verified
- Anduril confirmed the tender and the $90 billion valuation to CNBC.[3] The Next Web states Anduril declined to comment to Bloomberg and later confirmed both to CNBC. The writer's extract of the CNBC text attributes the terms to the Bloomberg report; the checker could not open CNBC (403).Partly verified
- Staff in 16 countries are eligible for the first time; earlier tenders covered only the US, UK and Australia.Confirmed by [3] The Next Web.Verified
- The previous valuation was $61 billion, set in May by a $5 billion round led by Thrive Capital and Andreessen Horowitz that doubled the valuation.Confirmed by [3] The Next Web.Verified
- CEO Brian Schimpf told CNBC in July that Anduril was not rushing into an IPO.Confirmed by [3] The Next Web.Verified
Sources
- [1]Bloomberg (opens in a new tab)Anduril in Talks to Sell Insider Shares at Roughly $90 Billion ValuationThe tender offer opened on Oct. 13 and is set to close Nov. 9, one of the people said.
- [2]CNBC (opens in a new tab)Anduril employee tender offer would value the defense tech startup at $90 billionEmployees participating in the offering can sell shares at $94.80 apiece.
- [3]The Next Web (opens in a new tab)Anduril opens a $1.3bn employee tender at a $90bn valuation
