Zanbato

It’s great to continue our partnership with PitchBook on their recent Weekend Analysis by Rosie Bradbury reviewing the recent increased activity in the secondary market for VC-backed startups. "We’ve seen a lot more transacted volume in the last three to four months,” says Akrati Johari, Zanbato's Chief Growth Officer, as spreads continue to tighten. https://lnkd.in/gBVmRsN4 #ZXData #Pitchbook #privatemarkets #venturecapital #trading #privatestocktrading #data #privatemarketdata #zx

Great to work with PitchBook on their Q2 2024 Venture Model report! In this report, our data shows a significant decrease in percentage discounts of secondary trading prices from last round prices for private companies. Based on Zanbato's data as referenced in the graph below, in March 2023 median and average discounts of private company prices in the secondary markets to their last primary financing were as high as 50% and 42%, respectively. Currently, these discounts have decreased to 31% and 24%, inching closer to parity as market sentiment continues to improve for these issuers. Access the full report here: https://lnkd.in/gnrjnxUJ #zanbato #ZXData #privatemarkets #venturecapital #trading #privatestocktrading #data #privatemarketdata #zx

Excited to partner with PitchBook on their Q1 2024 US VC Valuations report. In this report, we delve into the US dynamic landscape of venture capital, uncovering trends, challenges, and opportunities shaping the industry. One key highlight from the report: Zanbato's data reveals that shares in the secondary markets are trading at median and average discounts of 37% and 28%, respectively, versus last round. However, the decrease in bid-ask spread suggests improved liquidity for the asset class. Link to the full report: https://lnkd.in/ePaW7xXK

Based on Zanbato's data, the current ZX Index Value for Rubrik is close to $34/share. As shown in the graph below, which tracks the ZX Index Value for Rubrik from January 2021, the company has seen activity in the secondary markets between $32-$34/share over the last 6 months, a 35-45% premium to last round pricing. Rubrik ($RBRK) is expected to IPO between $28-$31 per share, following the successful tech IPOs of Astera Labs ($ALAB), which closed yesterday +103.4% since IPO, and of Reddit ($RDDT) +15.1% since IPO. Institutional secondary markets are predictive of IPO pricing -- many of the same institutions drive price discovery in both markets. If you're interested in learning how ZXData can empower your investment strategies, feel free to reach out to us @datainquiries@zanbato.com. This data is based on activity on ZX and its data partners without input from Rubrik. ZX Index Value is derived by applying Zanbato's proprietary weightings to the order flow data collected for the stated period (both bids and asks), based on the order type (firm order or indication of interest) and whether the order has been executed, with greater weight given to more recent orders. #Zanbato #ZXData #Rubrik #RBRK #RDDT #ALAB #IPO #Preipo #MarketIntelligence #PrivateData #PrivateTrading #venturecapital

Akrati Johari, Zanbato's Chief Growth Officer, spoke at The Information’s Private Capital Conference discussing private secondary markets along with Gaurav Mather. Thank you Cory Weinberg and Kate Clark for the collaboration. #privatemarkets #secondarymarkets #venturecapital https://lnkd.in/gySKsPve

Institutional secondary markets are predictive of IPO pricing -- many of the same institutions drive price discovery in both markets. As an example, based on Zanbato's data, the ZX Index Value for Reddit was around $28/share in early 2024 and the current ZX Index Value for Reddit is around $30/share. Reddit (RDDT) is expected to IPO at approximately a $6.4bn valuation this Thursday within the range of $31 to $34 a share, roughly a 4.8% to 14.9% premium to the current ZX Index Value. Understanding secondary market dynamics can be beneficial for making informed investment decisions whether you are a private or public market investor. If you're keen on delving deeper into how ZXData can empower your investment strategies, feel free to reach out to us at datainquiries@zanbato.com. This data is based on activity on ZX and its data partners without any input from Reddit. ZX Index Value is derived by applying Zanbato's proprietary weightings to the order flow data collected for the stated period (both bids and asks), based on the order type (firm order or indication of interest) and whether the order has been executed, with greater weight given to more recent orders. #Zanbato #ZXData #Reddit #RDDT #IPO #preipo #MarketIntelligence #PrivateData #PrivateTrading #venturecapital

Appreciate the collaboration with Marc Vartabedian at The Wall Street Journal on discussing the state of the secondary markets. In 2023, based on Zanbato's data, we saw 50% of sellers were family offices, high net worth, or ultra-high net worth individuals. Individuals took the lead as the predominant sellers, followed closely by VC and growth equity firms, which contributed to 48% of the total sales volume. #Zanbato #ZXData #WSJ #privatemarkets #venturecapital #trading #privatestocktrading #data #privatemarketdata

Thrilled for #ZXData to be featured on IDO! ZXData by Zanbato empowers investors and valuation teams with insights into the private market. To learn more about ZXData, please reach us at datainquiries@zanbato.com. #ZXData #privatemarkets #venturecapital #trading #privatestocktrading #data #privatemarketdata

Based on #Zanbato data, in 2020 and 2021, secondaries traded at a premium to last round pricing, fueled by oversubscribed primary rounds and unmet demand flowing into the secondary market. In the last seven quarters, we have seen a return to secondaries trading at a discount to primary round pricing. This, coupled with bid-ask spreads tightening in the secondary markets at the end of last year, with spreads at 10% in November (the lowest in the last 20 months), is predictive of more active secondary trading markets over 2024. #ZXData #privatemarkets #venturecapital #trading #privatestocktrading #data #privatemarketdata

In our November Monthly Movers Report on Institutional Fund Marks, we witnessed a 1.7% dip in private portfolios ($ weighted), averaging a 5.9% markdown (equal weighted). Our latest report shows an upswing in sentiment for LegalTech, EdTech, and SaaS, while AgTech, Logistics & Transportation, and HealthTech experienced a dip. Stay informed and explore the full findings by clicking the link below! https://lnkd.in/g46GfAT7 #Zanbato #ZXData #privatemarkets #venturecapital #trading #privatestocktrading #data #privatemarketdata