ID.me Closes Tender Offer Valuing the Startup at $1.8 Billion

Online verification company ID.me closed a tender offer that valued the business at $1.8 billion, a step up over its $1.73 billion valuation two years ago, a person familiar with the situation said.

Ribbit Capital, a new investor in the company, led the transaction, with existing investors Viking Global Investors and CapitalG participating. Representatives for ID.me and Ribbit didn’t respond to requests for comment.

Bloomberg earlier reported on the planned tender offer last month. The transaction allowed some employees and early investors to sell shares.

Secondary sales, meaning stakes in a private company bought from existing shareholders rather than directly from the ...