The San Francisco-based company known as SoFi began sales talks
after a foreign bank made a $6 billion "indicative offer," the
newspaper said, citing two sources.
The offer came shortly after a $500 million funding round in
February led by investment firm Silver Lake, the newspaper said.
The round valued SoFi at about $4.3 billion, ranking it among
the most valuable private tech startups in the United States.
SoFi then held talks with other potential buyers, seeking a
price between $8 billion and $10 billion, but the bidders were
not willing to meet that price, the newspaper said.
SoFi declined to comment. Schwab did not immediately respond to
a request for comment.
SoFi Chief Executive Officer and co-founder Mike Cagney resigned
last month after the company began investigating allegations
that employees were sexually harassed at work.
A series of top-level executives have left SoFi this year,
including Chief Financial Officer Nino Fanlo, Chief Revenue
Officer Michael Tannenbaum and Chief Technology Officer June Ou.
Earlier this month SoFi said it would withdraw its application
for a bank license following the senior leaders' departures. The
license had been part of the company's efforts to expand beyond
its core business of student loans and unsecured personal loans.
(Reporting by Alwyn Scott; Editing by Lisa Von Ahn)
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