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.

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<ul><li>Anthropic positioned itself as the large language model (LLM) for businesses with their mid-2023 update to Claude, adding a 100K token context window (versus the 8K of OpenAI’s GPT-4) so companies could do the now-standard process of RAG plus zero-shot prompting to retrieve proprietary data and inject it into their prompts.</li><li>With Anthropic’s March launch of Claude 3 Opus, OpenAI’s GPT-4 has competition for its crown as the state of the art LLM for B2B, with Perplexity CEO Aravind Srinivas deeming Opus the best LLM on the market.</li><li>Sacra estimates that Anthropic is at $316M annual recurring revenue (ARR), up 1,341% year-over-year from $22M ARR in March 2023 with a 61x forward revenue multiple on their last valuation of $18.4B, monetizing like OpenAI both with its developer tools API via usage and offering a prosumer chat experience on subscription.</li></ul>

Anthropic positioned itself as the large language model (LLM) for businesses with their mid-2023 update to Claude, adding a 100K token context window (versus the 8K of OpenAI’s GPT-4) so companies could do the now-standard process of RAG plus zero-shot prompting to retrieve proprietary data and inject it into their prompts.With Anthropic’s March launch of Claude 3 Opus, OpenAI’s GPT-4 has competition for its crown as the state of the art LLM for B2B, with Perplexity CEO Aravind Srinivas deeming Opus the best LLM on the market.Sacra estimates that Anthropic is at $316M annual recurring revenue (ARR), up 1,341% year-over-year from $22M ARR in March 2023 with a 61x forward revenue multiple on their last valuation of $18.4B, monetizing like OpenAI both with its developer tools API via usage and offering a prosumer chat experience on subscription.

<ul><li>Perplexity hit $11M annual recurring revenue (ARR) with their AI-powered search tool.</li><li>Perplexity is at $11M ARR, up 37% monthly from $8M in January and $3M in October, with about 50M visits per month.</li><li>Perplexity has now positioned itself as the “Google Search for knowledge work”—designed for the 0.2% of queries longer than 10 words—monetizing with a $20/mo paid subscription.</li></ul>

Perplexity hit $11M annual recurring revenue (ARR) with their AI-powered search tool.Perplexity is at $11M ARR, up 37% monthly from $8M in January and $3M in October, with about 50M visits per month.Perplexity has now positioned itself as the “Google Search for knowledge work”—designed for the 0.2% of queries longer than 10 words—monetizing with a $20/mo paid subscription.

Perplexity: The $11M/year Cliff Notes For The Web Growing 4,272%

<ul><li>Hugging Face was founded in 2016 as a chatbot for teens, but they found product-market fit in 2018 after they open-sourced the Transformers library they built to run it, hitting 15,000 stars on Github in just one year.</li><li>Sacra estimates that Hugging Face hit $70M annual recurring revenue (ARR) at the end of 2023, up 367% from 2022, primarily off the growth of lucrative consulting contracts with many of the biggest companies in AI—Nvidia, Amazon, and Microsoft.</li><li>Just as GitHub (NASDAQ: MSFT, ~$1.5B in revenue in 2023) in the early days prioritized user and network growth over monetization—giving away unlimited public repos and charging just $25/mo for private repos—Hugging Face lets users host unlimited models for free, charging only for their hosted inference offering and for enterprise features like SSO.</li></ul>

Hugging Face was founded in 2016 as a chatbot for teens, but they found product-market fit in 2018 after they open-sourced the Transformers library they built to run it, hitting 15,000 stars on Github in just one year.Sacra estimates that Hugging Face hit $70M annual recurring revenue (ARR) at the end of 2023, up 367% from 2022, primarily off the growth of lucrative consulting contracts with many of the biggest companies in AI—Nvidia, Amazon, and Microsoft.Just as GitHub (NASDAQ: MSFT, ~$1.5B in revenue in 2023) in the early days prioritized user and network growth over monetization—giving away unlimited public repos and charging just $25/mo for private repos—Hugging Face lets users host unlimited models for free, charging only for their hosted inference offering and for enterprise features like SSO.

Hugging Face: The $70M/year anti-OpenAI Growing 367% year-over-year

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Model hub and collaboration tools for developers building with open-source AI models

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Hugging Face (FACE US)

Anthropic At $316M ARR

TL;DR: With the launch of Claude 3 Opus, Anthropic has cemented itself alongside OpenAI, Mistral and Google as one of the small handful of LLM...

Sacra

Perplexity: The $11M/year Cliff Notes For The Web Growing 4,272%

TL;DR: Last month, Perplexity hit $11M annual recurring revenue (ARR) with their AI-powered search tool. Their master plan hinges on using that...

Sacra

Hugging Face: The $70M/year anti-OpenAI Growing 367% year-over-year

TL;DR: Since launching in 2016, Hugging Face has become one of the most influential companies in AI and the face of an insurgent open-source...

Sacra

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