Faire Begins Employee Share Sale at $5.2 Billion Value, Eyes IPO

Online marketplace Faire has kicked off a process for some employees to sell their shares in the company at a $5.2 billion valuation, in a move that brings it closer to an initial public offering.

The share sale is being led by WCM Investment Management, a new investor in the company, with participation from existing holder Baillie Gifford & Co. and new investor True North Fund, according to a company announcement. The deal is expected to be for about $100 million, according to people familiar with the matter, who asked not to be identified as the details haven’t been ...