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Top Segments in September's Secondary Markets redefining the paradigm that secondary deals have to sell at massive discounts 📈 📈 📈 👉 Here’s a snapshot: 1. AI-LLM: The Thrill Ride 🎢 OpenAI - projected at a whopping 200+% premium Cohere - estimated 40% premium Anthropic - soaring with an estimated 400+% premium Behind the numbers: Investors are anchoring their decisions on the skyrocketing growth rates of product usage. A recent Databricks report paints the picture: a 1310% growth in companies utilizing SaaS LLM APIs from November 2022 to May 2023. Astonishingly, there's a 411% YoY surge in organizations taking more models live. Leading the charge in growth is dbt, boasting 206% YoY growth by customer count. The current buzz? Fresh investment rounds for OpenAI and Anthropic: OpenAI is looking to do a tender offer at a $80-90bn valuation and same for Anthropic. However, it's worth noting that some secondary platforms haven’t updated pricing and report modest premiums for this sector. With our live market pricing tool, it’s evident that the market remains volatile. 2. Space: Opening Up the Final Frontier 🌌 SpaceX - charting the stars with an estimated 20% premium. Anduril Industries - not far behind with an estimated 15% premium. Fueling the Excitement: Fundamentally, groundbreaking achievements in space experiments combined with budding space agencies globally. PitchBook data reveals that VC investments in space-tech startups, especially outside the US and China, are on the rise, now making up over a quarter of the worldwide total. According to Michael Mealling of Starbridge Venture Capital, nations like India are easing foreign investment laws, pulling in more funds into their space sectors. Countries with emerging space agencies are actively collaborating with the private sector. In the short term, there is an ongoing tender offer for SpaceX at $81 that influences secondaries prices. 3. Business Applications: Riding the Wave of Sustainable Revenue Growth 🌊 Ramp - estimated 12% premium Introhive and Gong are other companies to watch The Inside Scoop: These companies are spotlighted for their consistently high Launchbay scores, indicating robust and steady revenue growth. 4. Payments: A Blend of Profitability and Prudent Valuations ⚖ Stripe - Striding ahead with an estimated 20% premium Klarna - Steady at an estimated 5% premium. The Big Picture: Companies that have recently faced downrounds yet demonstrate solid profitability scores in Launchbay are getting attention. These firms have pragmatic plans to leverage their market position for innovative revenue streams. Klarna has reported a profitable month in the second quarter ahead of target and continued growth ahead of e-commerce. 👍 Engage with a like or share if you'd like to see more insights from the market!
