SoFi, the online lending giant, held conversations with Charles Schwab about a potential acquisition by the brokerage firm, according to a source with knowledge of the discussions.
The M&A talks were first reported by the Financial Times and were said to take place earlier this year. In addition to Charles Schwab, the FT reported that there were discussions with several other unnamed companies, including a US$6 billion offer from a foreign bank.
We’re told that SoFi would have considered a sale for US$10 billion, but did not receive an offer this high. In its most recent round in February, SoFi raised funding from Silver Lake, at a valuation said to be north of US$4 billion.
SoFi is one of the most well-capitalized startups, having raised over US$2 billion in both debt and equity financing. The company has long-talked about an eventual IPO, but has not solidified plans.
Full Content: Financial Times
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