💸 Rippling's Tender Offer

Today’s newsletter is 412 words - a 2-minute read (4-minute if you take your time…🐌)

Welcome back everyone!

Excited to have you join us: We’re Chris & Nolan (@chrisnolansf), and welcome to SF Whisper - a newsletter covering the most interesting business and local news of San Francisco.

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Anyways. Let’s get started -

Rippling's Tender Offer: A Mixed Bag for Former Employees

Strong Demand and Restrictions

Rippling's recent tender offer, with over $2 billion in term sheets, allows former employees to participate, except those at competitors like Deel and Gusto. This decision has led to internal disputes and complaints. The offer, open to current and former employees, involves selling up to 25% of vested equity, with restrictions on previous external sales.

Balancing Privacy and Participation

Rippling's exclusion of competitors' employees aims to protect sensitive financial data. While private companies can restrict stock sale participation, this decision has stirred mixed reactions. Despite the controversy, Rippling continues to navigate its growth, valued at $13.5 billion.

Fremont: America’s Best City to Raise a Family

Top Rankings for Family Living

Fremont, California, has been named the best place to raise a family in the U.S., excelling in education, safety, and affluence. With a high median household income of $162,336 and one of the lowest child uninsured rates at 1.4%, Fremont tops the WalletHub study ranking 182 municipalities. The city boasts extensive parkland and a strong local economy, supported by major employers like Tesla and Meta.

Challenges and Community Strength

Despite industrial areas affecting walkability, Fremont offers numerous outdoor activities through 64 linear parks and seven East Bay Regional Parks. Mayor Lily Mei acknowledges challenges such as homelessness and high living costs but highlights the city's resilience and robust manufacturing sector. San Jose and San Francisco also ranked high but faced challenges in affordability and family dynamics, respectively.

Catch up on the latest:

• OpenAI hires Sarah Friar as CFO, Kevin Weil as CPO (Link)

• California’s newest state park opens today. It still needs a name (Link)

Today’s whisper:

<sup>Look out Daeho, there’s a new galbijjim (korean braised beef short rib) player in town ready to take over! We’re excited to try Mashita Galbi Jjim.

Let us know if you’ve tried it and how it compares</sup> 😀