Layoffs are increasing all across the country and Silicon Valley is not immune to feeling the pain of the crisis; startup EquityBee allows employees to sell vested equity options to a group of investors and they have seen interest in their product skyrocket recently; “We’ve seen a significant increase in activity during March, almost double from the previous month,” EquityBee Co-Founder and CEO Oren Barzilai told Business Insider. “We’re projecting even more for April because more are being laid off — or think they will be laid off and need capital to purchase their options.”; employees might be stuck with a bigger tax bill than what they cashed out so employees need to be careful when looking to go this route; “It’s an illiquid investment,” Barzilai said. “They will need to wait for a liquidity event at the company, and with this market situation, all the planned IPOs for 2020 likely will not happen this year. They need to understand that amount of cash they are committing won’t be accessible for a long time.” Business Insider
