Details of the Liquidity Event
- Investment Amount: Meta paid approximately $14.3 billion to $15 billion for a 49% minority stake.
- Valuation: The transaction valued Scale AI at more than $29 billion.
- Structure: The deal was structured like a "synthetic secondary" or a large, one-time dividend. Meta invested billions into Scale AI, which then distributed the proceeds to its shareholders and employees.
- Outcome for Shareholders/Employees: This provided "substantial liquidity" to shareholders and vested employees, allowing them to convert previously illiquid shares into cash while still retaining some equity in the company.
- Impact: This event was considered a new playbook for liquidity in a market with few IPOs and one of the most significant AI liquidity events of the year.