Giving our team liquidity through Linear’s first tender offer

As part of our Series C, we completed a tender offer that gave current and former teammates the opportunity to sell a portion of their vested options at a $1.25B valuation, the same price offered to our investors. From the beginning, we’ve tried to design Linear’s equity program to be as employee-friendly as possible. That comes from my firsthand experience at previous startups, where I had to exercise options within 90 days and then hold shares indefinitely with almost no flexibility. Often there was little transparency around early exercise, and in some cases the option wasn’t even offered. At Linear, we wanted to do better. Since the early days, we’ve offered a 10-year extended exercise window, early exercise in the US, and as much transparency as possible on the performance of the business, starting from when we present a job offer. This tender offer builds on that approach. By creating a path to liquidity, we’ve given our people the option to realize some of the value of their ownership today, while still holding the majority for the future. We’ve tried to think more broadly about what helps people stay at companies they care about. Too often, people leave not because they lose motivation but because their needs change. They may need cash for a life event, time away to reset, or a chance to refresh their equity to continue having skin in the game. At Linear, we call our approach to addressing these realities Linear Infinity. The idea is to make it easy for people to keep choosing Linear, as long as the work remains fulfilling. Infinity includes paths to liquidity, such as this tender offer. It also gives teammates the ability to take real time away: a fully paid month off after four years, and an additional paid month every two years after that, with options for longer breaks through flexible unpaid leave. This allows people to recharge without having to step away from the company. We also offer equity refreshers, so ownership continues to grow without forcing a job change every few years. We have built Linear differently than most startups. We have grown profitably, sustainably, and predictably, while keeping the team small and focused. Our hope is that people choose to stay and contribute far beyond the typical two- or four-year tenure, and Infinity is designed to make that possible. I’m proud we were able to do this at such an exciting moment in Linear’s journey. But more than anything, I feel grateful. None of this would exist without the people who chose to put their time, talent, and care into building Linear. Whether you’re part of the team today or part of our alumni community, thank you. If you’re excited about building the future of software with us, we’re hiring. Check out our careers page.