AI sales startup Clay launches its second employee tender offer in under nine months, valuing it at $5B, up from $3.1B in August and $1.5B in its May 2025 offer (Michael J. de la Merced/New York Times)

Clay, an AI sales startup, launches its second employee tender offer, valuing it at $5B. The valuation has increased from $3.1B in August and $1.5B in May 2025. This move is part of a trend among software upstarts holding multiple tender offers before going public.