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 Patreon generated $179M in revenue in 2025, up from 28% year-over-year from $140M in 2024.</li><li>Patreon is valued at $4 billion following its $155 million Series F round in April 2021, led by Tiger Global Management.</li><li>The blended take rate has increased from approximately 7% in 2020 to an estimated 8.5% currently, with most creators likely on the 8% plan.</li></ul>

Sacra estimates that Patreon generated $179M in revenue in 2025, up from 28% year-over-year from $140M in 2024.Patreon is valued at $4 billion following its $155 million Series F round in April 2021, led by Tiger Global Management.The blended take rate has increased from approximately 7% in 2020 to an estimated 8.5% currently, with most creators likely on the 8% plan.

<ul><li>Sacra estimates that Passes reached a $9.5M annualized net revenue run rate in February 2024, up from $3.6M at the end of 2023.</li><li>Passes raised $40M in Series A funding led by Bond Capital, with participation from Abstract Ventures, Crossbeam Ventures, Skims cofounders Emma and Jens Grede, and others in February 2024.</li><li>Passes acquired Fanhouse in 2023, incorporating a former safe-for-work membership competitor.</li></ul>

Sacra estimates that Passes reached a $9.5M annualized net revenue run rate in February 2024, up from $3.6M at the end of 2023.Passes raised $40M in Series A funding led by Bond Capital, with participation from Abstract Ventures, Crossbeam Ventures, Skims cofounders Emma and Jens Grede, and others in February 2024.Passes acquired Fanhouse in 2023, incorporating a former safe-for-work membership competitor.

<ul><li>Sacra estimates that OnlyFans hit $1.55B in revenue in 2025, up 10% year-over-year from $1.413B in 2024.</li><li>As of May 2026, OnlyFans sold a 16% minority stake to San Francisco-based Architect Capital at a $3.15B valuation.</li><li>As AI gets better, OnlyFans has the opportunity to integrate AI-powered features to enhance user experiences and creator productivity.</li></ul>

Sacra estimates that OnlyFans hit $1.55B in revenue in 2025, up 10% year-over-year from $1.413B in 2024.As of May 2026, OnlyFans sold a 16% minority stake to San Francisco-based Architect Capital at a $3.15B valuation.As AI gets better, OnlyFans has the opportunity to integrate AI-powered features to enhance user experiences and creator productivity.

<ul><li>Sacra estimates that Fanvue hit $200M in ARR in May 2026, up from $100M at the end of 2025.</li><li>Fanvue operates a two-sided marketplace with a B2B2C go-to-market strategy, where they provide infrastructure for creators (businesses) who then serve their fans (consumers).</li><li>Fanvue is capitalizing on the emerging AI creator economy by positioning itself as the leading platform for entirely AI-generated influencers.</li></ul>

Sacra estimates that Fanvue hit $200M in ARR in May 2026, up from $100M at the end of 2025.Fanvue operates a two-sided marketplace with a B2B2C go-to-market strategy, where they provide infrastructure for creators (businesses) who then serve their fans (consumers).Fanvue is capitalizing on the emerging AI creator economy by positioning itself as the leading platform for entirely AI-generated influencers.

<ul><li>Sacra estimates that Whop hit $142M in annualized revenue in October 2025, up from $56M at the end of 2024.</li><li>By February 2026, Whop reported $2.67B in cumulative lifetime GMV, with gross transaction volume growing roughly 25% month over month.</li><li>In February 2026, Tether made a strategic investment in Whop at a $1.6B valuation, with Whop raising $200M in the round.</li></ul>

Sacra estimates that Whop hit $142M in annualized revenue in October 2025, up from $56M at the end of 2024.By February 2026, Whop reported $2.67B in cumulative lifetime GMV, with gross transaction volume growing roughly 25% month over month.In February 2026, Tether made a strategic investment in Whop at a $1.6B valuation, with Whop raising $200M in the round.

United States

Membership tool for creators to offer exclusive content and perks to paying fans

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Patreon (PATREON US)

Primer: Patreon - 01 Feb 2026

Membership tool for creators to offer exclusive content and perks to paying fans

Sacra

Primer: Passes - 12 Oct 2026

Marketplace for creators to sell risqué content, livestreams, and direct messages without nudity

Sacra

Primer: OnlyFans - 26 Aug 2026

Marketplace for NSFW creators to sell subscription content directly to fans

Sacra

Primer: Fanvue - 31 May 2026

Subscription-based platform for creators to monetize content and engage with fans

Sacra

Primer: Whop - 06 Apr 2026

Marketplace and toolset for selling digital products like courses, memberships, and betting tips

Sacra

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)