The market of private tech unicorns is valued at a significant discount
ByteDance available at 210 bn valuation
Unicorns, which previously multiplied their valuations among investors, are now being sold by early investors at significant discounts.
Everyone is waiting for positive signals in the market to start the distribution of dry powder. Positive signals related to interest rates will return activity to the investment market.”
TALLINN, ESTONIA, August 28, 2023/EINPresswire.com/ -- Abstra Agency, a private equity advisory firm, conducted a review of the capitalization of technology companies.— Richard Freemanson
At the beginning of August, was the growth of the S&P 500 index, which is due to the positive performance of companies in the top ten. It is these companies that have a significant impact on the overall dynamics of the market. At the same time, we also saw increased activity in the secondary market, thanks to which we were able to get an overall picture of the company's valuations.
ByteDance is available at a valuation of close to 210 billion. By rumors In 2022 ByteDance overtook Tencent in annual revenue. The annual revenue of Tencent in 2022 was 83bn usd. By the way, Tencent's valuation in the public market is at the limit of 390 billion.
Revolut sellers are at a 60% discount to the last round, 14-15 billion usd valuation. Small deals with Revolut were made at a valuation of 11.5 billion.
SpaceX sellers are at the level of 142-147 billion, as a rule, deals with SpaceX are made quite close to the conditions of the last rounds. And SpaceX has been one of the most actively traded companies in the secondary market in recent years.
Carta is available at a valuation of 3.3 billion valuation. It's also a significant discount to the last round, which was closed at a valuation of 7.9 billion usd.
Many companies like Celonis, Databricks, Anduril, Instacart, Notion and others are actively traded on the secondary market.
At the same time, growth in demand is observed in the AI market, where the demand for capital of companies is within the last rounds or at a premium. But early investors are not in a hurry to obtain liquidity.
Separately, since the end of last year, there has been a decrease valuations of Blockchain companies. Just want to pay attention to OpenSea where investors offer capital with a 50-60 percent discount to the last round. Consensys holders are at 1.9 billion usd, the last round was closed at 7.1 billion usd. And Chainalisys is available at a valuation of 2.7 billion usd when the last round closed at a valuation of 8.6 billion usd. Most companies from the blockchain industry are traded with significant discounts to the last round.
richard freemanson
Abstra Agency
richard@abstra.agency
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