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772 Tiger Global Nears Deal to Sell Slice of Cohere Stake at $3 Billion Valuation

The Information
Maria Heeter @ The Information · 08/22/2023 16:19 EDT

Tiger Global Nears Deal to Sell Slice of Cohere Stake at $3 Billion Valuation

Tiger Global Management is nearing a deal to sell part of its stake in OpenAI rival Cohere at a roughly $3 billion valuation, a markup of more than 40% from Cohere’s last financing round in June, according to people familiar with the matter.

Tiger is selling a stake of roughly 2.1% of Cohere for about $63 million, equal to the dollar amount of Tiger’s initial investment in Cohere, according to one of the people. Tiger will retain a roughly 5% stake in Cohere after the sale, the person said.

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