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The company would sell existing shares in a so-called tender offer led by the venture firm Thrive Capital, the people said.

The most valuable U.S. startup is discussing a tender offer that could range from $500 million to $750 million, said some of the people, who asked not to be identified because the information is confidential.

It is also preparing to launch a tender offer for Wyndham's shares that would show Wyndham's investors that there is a firm offer on the table, according to the sources.

It had last week decided to make a new tender offer to allow them to sell shares, two days after cancelling an earlier offer.

It had last week decided to make a new tender offer to allow employees to sell shares, two days after cancelling an earlier offer.