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Chamath Palihapitiya is taking SoFi public

SoFi is going public via one of Palihapitiya's SPACs at an $8.65 billion valuation. It raised $1.2 billion in the accompanying PIPE.

SoFi will be the fourth company to go public via one of Palihapitiya's SPACs, joining Virgin Galactic, Opendoor and Clover Health. Reuters earlier reported the news.

Updated Jan. 7 with confirmation of the news.

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