## Liquidity

A founder’s guide to the tender offer  
Learn what a tender offer is and how you can use one to provide liquidity for your shareholders, from the strategic benefits to the process for a successful transaction.

The secondary market, explained  
Understand the function of the private secondary market and how companies can benefit from secondary liquidity and secondary market transactions.

Waterfall modeling:
A complete guide  
Learn the ins and outs of simple and complex waterfall modeling with Carta's free, comprehensive resource.

Creating exit opportunities: Secondary market strategies for Egyptian startups  
For Egyptian startups facing a liquidity gap, secondary markets are a strategic solution. Find out how tender offers, direct secondaries, and recurring liquidity programs can create exit opportunities for employees and investors.

Capital gains  
Capital gains are profits you make from selling a capital asset. Learn the difference between short-term and long-term capital gains and how taxes work for each.

Leveraged buyout (LBO)  
In this guide, learn how leveraged buyouts work and the steps required to complete these complex financial transactions.