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>We last spoke last April, when our company was doing over $80 million ARR.</li><li>Guideline announced hitting $100M ARR in January of this year.</li><li>We&#39;re now over $120M, growing 35%+ year-over-year.</li></ul>

We last spoke last April, when our company was doing over $80 million ARR.Guideline announced hitting $100M ARR in January of this year.We&#39;re now over $120M, growing 35%+ year-over-year.

Kevin Busque And Steven Wu, CEO And CFO Of Guideline, On Hitting $120M ARR

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,390/1,395 points and the support at 1,375/1,372 points (50-day EMA/25-day EMA).</li><li>Overall, the index has continued to move in an upward direction toward testing the resistance of the downchannel range at 1,404 points.</li><li>We maintain our recommendation of trading buy on weakness based on the expectation that the Thai stock market has already bottomed out.</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,390/1,395 points and the support at 1,375/1,372 points (50-day EMA/25-day EMA).Overall, the index has continued to move in an upward direction toward testing the resistance of the downchannel range at 1,404 points.We maintain our recommendation of trading buy on weakness based on the expectation that the Thai stock market has already bottomed out.

EU's Trade Balance and Discussion on Establishment of LTFs

<ul><li>In opposition to incumbent 401(k) providers like Fidelity/Vanguard charged savers 1%-2% of assets under management (AUM), TaskRabbit co-founder Kevin Busque founded Guideline ($80M ARR) in 2015—as an employee-centric 401(k) benefits companies could use to attract talent.</li><li>Guideline’s business model shifted the burden of paying for benefits from the individual to the company—with a flat monthly SaaS fee, a $8 per/mo charge per employee, and a nominal 0.08% take rate on AUM.</li><li>Zooming out, Guideline’s opportunity from here is large—all U.S. 401(k) plans held $7.3 trillion in assets, and Guideline has roughly $8.5B on the platform, or about 0.1% of that 401(k) total.</li></ul>

In opposition to incumbent 401(k) providers like Fidelity/Vanguard charged savers 1%-2% of assets under management (AUM), TaskRabbit co-founder Kevin Busque founded Guideline ($80M ARR) in 2015—as an employee-centric 401(k) benefits companies could use to attract talent.Guideline’s business model shifted the burden of paying for benefits from the individual to the company—with a flat monthly SaaS fee, a $8 per/mo charge per employee, and a nominal 0.08% take rate on AUM.Zooming out, Guideline’s opportunity from here is large—all U.S. 401(k) plans held $7.3 trillion in assets, and Guideline has roughly $8.5B on the platform, or about 0.1% of that 401(k) total.

<ul><li>We have approximately 40,000 customers on our platform, and we've been filing the required forms since year one.</li><li>Guideline services small businesses, with 92% of our clients having never had a 401(k) before.</li><li>Now, we have over $8 billion on the platform, which is significant.</li></ul>

We have approximately 40,000 customers on our platform, and we've been filing the required forms since year one.Guideline services small businesses, with 92% of our clients having never had a 401(k) before.Now, we have over $8 billion on the platform, which is significant.

Kevin Busque And Steven Wu, CEO And CFO Of Guideline, On The 401(k) And Payroll Ecosystem

PTT Exploration & Production / Equity Bottom-Up

<ul><li>The SET Index is expected to fall, with the support at 1,662/1,650 points and the resistance at 1,681/1,690 points.</li><li>We recommend trading buy on stocks with positive reversal signs that may outperform the market today, such as those in the banking sector and the healthcare sector.</li><li>The disappointing earnings of large firms and signals for weak earnings results create high risk of selling ahead of upcoming earnings announcements (keep a close watch on PTTEP's earnings today).</li></ul>

The SET Index is expected to fall, with the support at 1,662/1,650 points and the resistance at 1,681/1,690 points.We recommend trading buy on stocks with positive reversal signs that may outperform the market today, such as those in the banking sector and the healthcare sector.The disappointing earnings of large firms and signals for weak earnings results create high risk of selling ahead of upcoming earnings announcements (keep a close watch on PTTEP's earnings today).

United States

Software for SMBs to offer and manage 401(k) retirement plans for employees

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Human Interest (INTEREST US)

Kevin Busque And Steven Wu, CEO And CFO Of Guideline, On Hitting $120M ARR

Sacra interview with Kevin Busque and Steven Wu, CEO and CFO of Guideline.

Sacra

EU's Trade Balance and Discussion on Establishment of LTFs

Technically, the SET Index is expected to move sideways, with the resistance at 1,390/1,395 points and the support at 1,375/1,372 points (50-day...

Krungthai XSpring

Guideline: The $80M/year 401(k)

Gusto, Rippling and Deel have turned into app stores for HR, benefits and finance, both enabling new companies through the access to clean payroll...

Sacra

Kevin Busque And Steven Wu, CEO And CFO Of Guideline, On The 401(k) And Payroll Ecosystem

Sacra interview with Kevin Busque and Steven Wu, CEO and CFO of Guideline.

Sacra

Market Outlook

The SET Index is expected to fall, with the support at 1,662/1,650 points and the resistance at 1,681/1,690 points. We recommend trading buy on...

Krungthai XSpring

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