San Francisco based Credit Karma has received $500m in a secondary offering from Silver Lake, valuing the company at $4b.
Buyout shop Silver Lake is purchasing a roughly $500 million stake in Credit Karma Inc. in a deal that makes the company behind the popular personal-finance portal one of the most highly valued in the financial-technology sector. Credit Karma isn’t receiving any proceeds or issuing any new shares as part of the transaction, Chief Executive Kenneth Lin said in an interview. Rather, Silver Lake is amassing common shares from earlier investors and employees in a so-called secondary sale.
https://www.wsj.com/articles/silver-lake-buys-500-million-stake-in-credit-karma-1522234800
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