TechCrunch Industry News Secondary sales shift from founder windfalls to employee-retention tools' plus, Meta tests a standalone app for its AI-generated ‘Vibes’ videos
Feb 5, 2026
Startups are using early secondary sales as a retention and recruiting tool, with examples like Clay, Linear, and ElevenLabs offering employee-wide tenders at rising valuations. The conversation contrasts founder cash-outs from 2021 with today’s broader liquidity moves and explores investor concerns about reduced IPO pressure. Meta is testing a standalone Vibes app for creating, remixing, and sharing short AI-generated videos with freemium and subscription options.
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Startups Offer Early Employee Liquidity
- Clay and other AI startups offered early employee tenders so staff could sell shares at high valuations.
- These moves aimed to spread gains beyond founders and retain top talent amid competition.
Use Small Liquidity Wisely
- Use limited liquidity as a retention and recruiting tool to compete with mature firms.
- Balance tenders with investors' need for exits to avoid harming future VC fundraising.
Tenders Shift From Founder Windfalls To Retention
- Employee-wide tenders differ from 2021 founder windfalls and are viewed more favorably by investors.
- They help retain staff but can reduce long-term liquidity for venture investors and LPs.