Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Sacra estimates that David has generated $102M in revenue in 2025 as of June, up from $8 million in 2024.</li><li>David raised $75 million in a Series A round in May 2025, led by Greenoaks with participation from Valor Equity Partners.</li><li>In July 2025, David expanded distribution into Wegmans and Vitamin Shoppe, with Kroger, Walmart, and Target in the pipeline.</li></ul>

Sacra estimates that David has generated $102M in revenue in 2025 as of June, up from $8 million in 2024.David raised $75 million in a Series A round in May 2025, led by Greenoaks with participation from Valor Equity Partners.In July 2025, David expanded distribution into Wegmans and Vitamin Shoppe, with Kroger, Walmart, and Target in the pipeline.

<ul><li>Sacra estimates eToro hit $931M in commission revenue in 2024, up 46% from $630M in 2023.</li><li>Net income surged to $192M in 2024, up 1,161% from $15M in 2023, while Adjusted EBITDA reached $304M.</li><li>eToro completed its initial public offering on May 15, 2025, pricing 13,711,470 shares at $52.00 per share.</li></ul>

Sacra estimates eToro hit $931M in commission revenue in 2024, up 46% from $630M in 2023.Net income surged to $192M in 2024, up 1,161% from $15M in 2023, while Adjusted EBITDA reached $304M.eToro completed its initial public offering on May 15, 2025, pricing 13,711,470 shares at $52.00 per share.

<ul><li>Sacra estimates Huel generated $335M of revenue in the trailing twelve months ending July 2025, up 22% year over year from $274M in the prior period.</li><li>Danone acquired Huel for $1.1 billion in 2026, approximately double the valuation implied by Huel's December 2022 funding round and characterized by Barclays analyst Warren Ackerman as a full price versus peers at more than 20x current EBITDA.</li><li>The company has built a global customer base of over 4 million people across 100+ countries, with the UK representing approximately 50% of revenue, the US contributing approximately 30% (already a $100M business), and Europe plus a small rest-of-world portion accounting for the remainder.</li></ul>

Sacra estimates Huel generated $335M of revenue in the trailing twelve months ending July 2025, up 22% year over year from $274M in the prior period.Danone acquired Huel for $1.1 billion in 2026, approximately double the valuation implied by Huel's December 2022 funding round and characterized by Barclays analyst Warren Ackerman as a full price versus peers at more than 20x current EBITDA.The company has built a global customer base of over 4 million people across 100+ countries, with the UK representing approximately 50% of revenue, the US contributing approximately 30% (already a $100M business), and Europe plus a small rest-of-world portion accounting for the remainder.

<ul><li>Sacra estimates that The Free Press hit $20M in annualized revenue in September 2025, up 48% year-over-year from $13.8M in September 2024 and up from $16M at the end of 2024.</li><li>Paramount Skydance acquired The Free Press in October 2025 for a reported $150 million.</li><li>Total disclosed funding reached at least $16 million across these rounds.</li></ul>

Sacra estimates that The Free Press hit $20M in annualized revenue in September 2025, up 48% year-over-year from $13.8M in September 2024 and up from $16M at the end of 2024.Paramount Skydance acquired The Free Press in October 2025 for a reported $150 million.Total disclosed funding reached at least $16 million across these rounds.

<ul><li>Sacra estimates that Liquid Death generated $333M in 2024, up 27% YoY.</li><li>Liquid Death is valued at $1.4 billion following its March 2024 Series E funding round of $67 million.</li><li>The company entered the UK market in 2023 with placements in major chains like Tesco and Co-op.</li></ul>

Sacra estimates that Liquid Death generated $333M in 2024, up 27% YoY.Liquid Death is valued at $1.4 billion following its March 2024 Series E funding round of $67 million.The company entered the UK market in 2023 with placements in major chains like Tesco and Co-op.

United States

Producer of high-protein, low-calorie, blood-sugar-friendly protein bars

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David (DAVID US)

Primer: David - 07 Dec 2025

Producer of high-protein, low-calorie, blood-sugar-friendly protein bars

Sacra

Primer: eToro - 15 Jun 2026

Brokerage app with social feed and copy trading across stocks, crypto, and forex

Sacra

Primer: Huel - 31 May 2026

Food brand offering plant-based, nutritionally complete meals, drinks, and snacks for convenience

Sacra

Primer: The Free Press - 19 Apr 2026

Independent media company publishing investigative stories and provocative commentary about current events and culture

Sacra

Primer: Liquid Death - 19 Apr 2026

Beverage brand selling canned water, sparkling water, and iced tea in aluminum tallboys

Sacra

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