Anduril: Employees selling shares at $90 billion valuation

Anduril, the defense technology startup, decided it was time to make its employees happy. It launched an internal share sale, a tender offer that values the company at roughly $90 billion. Quite a sum, wouldn't you say?

Anduril is an American company founded by Palmer Luckey, the same guy behind Oculus VR. They build defense technology, including drones, advanced surveillance systems, and robots for military use. So, not exactly the company making cute cat apps.

The defense sector is booming, with massive investments pouring into new technologies. Anduril positioned itself well, attracting capital and talent. Its $90 billion valuation, from this tender offer, makes it one of the most valuable startups in its field.

The offer allows current and former employees to cash in on their equity. It's open in 16 countries and is set to close on November 9. A neat opportunity for Anduril's "old guard" to get paid for their early belief.

These "tender offers" are common for fast-growing private companies. They provide liquidity to early investors and employees without waiting for an IPO (going public). It's a fancy way of saying, "here's your money, well done." Bloomberg's Katrina Manson joined Ed Ludlow on "Bloomberg Tech" to discuss this development.