How Mercor and Zepto Reveal the New IPO Valuation Games

Episode 40 dives into two very different IPO filings from the same week: Zepto, the Indian quick-commerce giant that grew 170% year-over-year but lost $180 million, and Mercor, the AI hiring startup whose founder publicly accused Sequoia of 'dual-pricing' valuation tricks. Lucas and Luna unpack what these fights tell us about the state of founder liquidity in mid-2026 — from revenue multiples to earnout structures to the power dynamics of late-stage rounds. A concrete look at how founders are navigating a market where IPOs are open but valuations are under a microscope. #IPO #Valuation #Zepto #Mercor #Sequoia #QuickCommerce #AIClone #FounderLiquidity #Earnouts #DualPricing #VentureCapital #StartupExits #LateStage #Business #Finance #Technology #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo