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>Bluesky is valued at approximately $700M as of January 2025, following a late-stage funding round led by Bain Capital Ventures.</li><li>The platform has reached 41.2 million users (as of January 2026), representing 60% growth from 35M in January 2025.</li><li>Completion of compliance work for the UK Online Safety Act and EU Digital Services Act in August 2025 removes regulatory barriers for European market entry.</li></ul>

Bluesky is valued at approximately $700M as of January 2025, following a late-stage funding round led by Bain Capital Ventures.The platform has reached 41.2 million users (as of January 2026), representing 60% growth from 35M in January 2025.Completion of compliance work for the UK Online Safety Act and EU Digital Services Act in August 2025 removes regulatory barriers for European market entry.

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

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<a href="https://www.smartkarma.com/entities/marvell-technology-inc" target="_blank" data-smartkarma-citation="entities:15837:1" rel="noopener">Marvell Technology (MRVL US)</a> is the main candidate for addition from TMI but has a reduced probability of inclusion due to sector balance.</li>
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<a href="https://www.smartkarma.com/entities/flex-ltd" target="_blank" data-smartkarma-citation="entities:36680:1" rel="noopener">Flex (FLEX US)</a> and <a href="https://www.smartkarma.com/entities/technipfmc-plc-2f8326ad-9188-44ca-bada-c9b9144835fd" target="_blank" data-smartkarma-citation="entities:13457:1" rel="noopener">TechnipFMC (FTI US)</a> are in MidCap and the top candidates for addition based on high eligibility scores.</li>
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<a href="https://www.smartkarma.com/entities/flex-ltd" target="_blank" data-smartkarma-citation="entities:36680:1" rel="noopener">Flex (FLEX US)</a> is projected for double inclusion to S&amp;P500 and Nasdaq100 on 19 June.</li>
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Marvell Technology (MRVL US) is the main candidate for addition from TMI but has a reduced probability of inclusion due to sector balance.

Flex (FLEX US) and TechnipFMC (FTI US) are in MidCap and the top candidates for addition based on high eligibility scores.

Flex (FLEX US) is projected for double inclusion to S&amp;P500 and Nasdaq100 on 19 June.


S&P500 June 2026 Forecast: FLEX, FTI & MTZ Leading the Pack

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<a href="https://www.smartkarma.com/entities/bloom-energy-corp" target="_blank" data-smartkarma-citation="entities:34062:1" rel="noopener">Bloom Energy (BE US)</a> became eligible for S&amp;P500 inclusion following positive Q1 earnings released on 28 April 2026.</li>
<li>The company's market cap and other eligibility metrics are estimated to place it among the top 5 addition candidates for S&amp;P500 with a chance of inclusion in June 2026.</li>
<li>Top forecasted additions for the June 2026 review are <a href="https://www.smartkarma.com/entities/flex-ltd" target="_blank" data-smartkarma-citation="entities:36680:1" rel="noopener">Flex (FLEX US)</a> and <a href="https://www.smartkarma.com/entities/technipfmc-plc-2f8326ad-9188-44ca-bada-c9b9144835fd" target="_blank" data-smartkarma-citation="entities:13457:1" rel="noopener">TechnipFMC (FTI US)</a>.</li>
</ul>



Bloom Energy (BE US) became eligible for S&amp;P500 inclusion following positive Q1 earnings released on 28 April 2026.
The company's market cap and other eligibility metrics are estimated to place it among the top 5 addition candidates for S&amp;P500 with a chance of inclusion in June 2026.
Top forecasted additions for the June 2026 review are Flex (FLEX US) and TechnipFMC (FTI US).


Bloom Energy (BE US): Blooming Earnings Unlock S&P500 Eligibility

<ul><li>Sacra estimates Xiaohongshu hit $4.8B in revenue in 2024, up 30% year-over-year from $3.7B in 2023.</li><li>Xiaohongshu's unique positioning as a content-driven social commerce platform has enabled it to capture significant market share from traditional e-commerce players like Alibaba and JD.com.</li><li>By leveraging a highly engaged user base—predominantly young, urban Chinese women—Xiaohongshu creates value through trust-based recommendations and seamless purchasing pathways, a model that has scaled to material profitability, with the company tracking toward a tripling of annual profit to $3 billion in 2025.</li></ul>

Sacra estimates Xiaohongshu hit $4.8B in revenue in 2024, up 30% year-over-year from $3.7B in 2023.Xiaohongshu's unique positioning as a content-driven social commerce platform has enabled it to capture significant market share from traditional e-commerce players like Alibaba and JD.com.By leveraging a highly engaged user base—predominantly young, urban Chinese women—Xiaohongshu creates value through trust-based recommendations and seamless purchasing pathways, a model that has scaled to material profitability, with the company tracking toward a tripling of annual profit to $3 billion in 2025.

<ul><li>Eight Sleep's valuation reached $1.5 billion in March 2026, following a $50 million funding round.</li><li>Eight Sleep is a smart mattress system that regulates bed temperature and tracks sleep biometrics without requiring wearables.</li><li>Eight Sleep operates a B2C hardware-plus-subscription model that integrates premium mattress accessories with ongoing software services.</li></ul>

Eight Sleep's valuation reached $1.5 billion in March 2026, following a $50 million funding round.Eight Sleep is a smart mattress system that regulates bed temperature and tracks sleep biometrics without requiring wearables.Eight Sleep operates a B2C hardware-plus-subscription model that integrates premium mattress accessories with ongoing software services.

United States

Reddit, Inc. operates as an online discussion platform. The Company publicizes online items recommended by members and aggregates news stories submitted by users. Reddit serves customers worldwide.

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Reddit (RDDT US)

Primer: Bluesky - 15 Jun 2026

Decentralized social media platform enabling users to share short posts containing text, images, and videos

Sacra

S&P500 June 2026 Forecast: FLEX, FTI & MTZ Leading the Pack

MRVL faces reduced probability due to sector balance; FLEX and FTI are top candidates for addition based on high eligibility scores, with FLEX...

Dimitris Ioannidis

Bloom Energy (BE US): Blooming Earnings Unlock S&P500 Eligibility

Bloom Energy became a strong candidate for S&P500 inclusion after positive Q1 earnings and with the EA acquisition hence replacement expected by...

Dimitris Ioannidis

Primer: Xiaohongshu - 13 Apr 2026

Social app for shopping inspiration and lifestyle content among young Chinese consumers

Sacra

Primer: Eight Sleep - 09 Mar 2026

Smart sleep technology company offering products like the Pod mattress with temperature regulation and sleep trackingasdas

Sacra

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Primer: Bluesky - 15 Jun 2026

Decentralized social media platform enabling users to share short posts containing text, images, and videos

Sacra

S&P500 June 2026 Forecast: FLEX, FTI & MTZ Leading the Pack

​MRVL faces reduced probability due to sector balance; FLEX and FTI are top candidates for addition based on high eligibility scores, with FLEX...

Dimitris Ioannidis

Bloom Energy (BE US): Blooming Earnings Unlock S&P500 Eligibility

Bloom Energy became a strong candidate for S&P500 inclusion after positive Q1 earnings and with the EA acquisition hence replacement expected by...

Dimitris Ioannidis

Primer: Xiaohongshu - 13 Apr 2026

Social app for shopping inspiration and lifestyle content among young Chinese consumers

Sacra

Primer: Eight Sleep - 09 Mar 2026

Smart sleep technology company offering products like the Pod mattress with temperature regulation and sleep trackingasdas

Sacra

MRVL faces reduced probability due to sector balance; FLEX and FTI are top candidates for addition based on high eligibility scores, with FLEX...