The valuation represents a 31% increase from the $6.1 billion valuation the 13-year-old company achieved in April of last year, when it raised a $575 million round led by Franklin Templeton for partly the same purpose: purchasing shares from employees, including to help them cover the taxes associated with converting expiring restricted stock units (RSUs, a form of equity compensation) into shares.
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It is useful for the standard romance too, such as when a billionaire love interest is shown driving his luxury car. Renting a real car would cost thousands of dollars, Choi said.