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>In November 2025, Yahoo entered into an agreement to acquire Vetted, bringing the company’s team and AI shopping technology into Yahoo to deliver more personalized product discovery and comparisons.</li><li>Vetted previously raised a $14 million Series A in August 2022 led by Insight Partners with participation from Index Ventures, Bling Capital, and Golden Ventures, after an earlier seed round in 2020, for total funding of approximately $15 million.</li><li>Vetted operates a B2C model that's free for consumers, generating revenue through affiliate commissions when users purchase products through its recommendations.</li></ul>

In November 2025, Yahoo entered into an agreement to acquire Vetted, bringing the company’s team and AI shopping technology into Yahoo to deliver more personalized product discovery and comparisons.Vetted previously raised a $14 million Series A in August 2022 led by Insight Partners with participation from Index Ventures, Bling Capital, and Golden Ventures, after an earlier seed round in 2020, for total funding of approximately $15 million.Vetted operates a B2C model that's free for consumers, generating revenue through affiliate commissions when users purchase products through its recommendations.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Reddit shares have taken a sharp dive following a troubling drop in references from OpenAI’s ChatGPT platform, sparking fresh concerns over the stability of its AI licensing revenue stream.</li><li>Once hailed as one of the most valuable sources of human-generated conversational data, Reddit has increasingly leaned into its role as a supplier of AI training material, boasting of its extensive corpus being the "#1 most cited domain" for large language models (LLMs).</li><li>However, recent data showing a sharp decline in ChatGPT references has jolted investors, raising red flags about the longevity and sustainability of this monetization route.</li></ul>

Reddit shares have taken a sharp dive following a troubling drop in references from OpenAI’s ChatGPT platform, sparking fresh concerns over the stability of its AI licensing revenue stream.Once hailed as one of the most valuable sources of human-generated conversational data, Reddit has increasingly leaned into its role as a supplier of AI training material, boasting of its extensive corpus being the "#1 most cited domain" for large language models (LLMs).However, recent data showing a sharp decline in ChatGPT references has jolted investors, raising red flags about the longevity and sustainability of this monetization route.

Reddit’s ChatGPT Collapse: A Warning Sign For All AI Content Sellers!

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>The Trump administration's announcement of U.S. $100,000 fee for new H-1B petitions  triggered anxiety, travel confusion, and immediate negative market reaction for Indian IT names.</li>
<li>Tech workers in the US report heightened hostility, reluctance to travel, and SMB clients unable to absorb fees risk reduced sponsorship, higher attrition, and retention challenges.</li>
<li>While there may be limited short-term P&amp;L impact, but structural threats — including the HIRE Act — could reshape delivery models, near-shoring, and pricing over 6–18 months.</li>
</ul>


The Trump administration's announcement of U.S. $100,000 fee for new H-1B petitions  triggered anxiety, travel confusion, and immediate negative market reaction for Indian IT names.
Tech workers in the US report heightened hostility, reluctance to travel, and SMB clients unable to absorb fees risk reduced sponsorship, higher attrition, and retention challenges.
While there may be limited short-term P&amp;L impact, but structural threats — including the HIRE Act — could reshape delivery models, near-shoring, and pricing over 6–18 months.


H-1B Fee Fallout: An Employee’s Perspective and Implications for Indian IT

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points (machine generated)<ul><li>The author has a positive outlook on Reddit (RDDT US) as a strong multi-year investment post its public debut.</li><li>Reddit is modernizing its platform and exploring new revenue streams, while currently generating $1.4 billion in annual revenue with significant growth potential.</li><li>Despite some analyst concerns, the author believes risks are overstated and projects a diluted free cash flow of over $12 per share by 2030, indicating a compelling investment opportunity.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)The author has a positive outlook on Reddit (RDDT US) as a strong multi-year investment post its public debut.Reddit is modernizing its platform and exploring new revenue streams, while currently generating $1.4 billion in annual revenue with significant growth potential.Despite some analyst concerns, the author believes risks are overstated and projects a diluted free cash flow of over $12 per share by 2030, indicating a compelling investment opportunity.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.</li>
<li>Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.
Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL


Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

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: Vetted - 14 Nov 2025

AI-driven app for personalized shopping research, recommendations, and purchases

Sacra

Reddit’s ChatGPT Collapse: A Warning Sign For All AI Content Sellers!

Reddit shares have taken a sharp dive following a troubling drop in references from OpenAI’s ChatGPT platform, sparking fresh concerns over the...

Baptista Research

H-1B Fee Fallout: An Employee’s Perspective and Implications for Indian IT

Trump's $100,000 fee for new H-1B petitions causes anxiety, travel confusion, and negative market reaction for Indian IT names, leading to...

Pranav Bhavsar

Reddit Inc (RDDT) - Monday, Jun 16, 2025

The author is bullish on Reddit (RDDT US) as a strong multi-year investment, forecasting significant revenue growth and free cash flow, despite...

Value Investors Club (VIC)

Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

Downgrading Utilities $XLU to Market Weight; Bullish Outlook Intact; Time for Prior Leadership to Shine? $IGV $PLTR $APP $SOUN $RZLV $SHOP $FROG $U...

Vermilion Research

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Dividend (Yield)

Primer: Vetted - 14 Nov 2025

AI-driven app for personalized shopping research, recommendations, and purchases

Sacra

Reddit’s ChatGPT Collapse: A Warning Sign For All AI Content Sellers!

Reddit shares have taken a sharp dive following a troubling drop in references from OpenAI’s ChatGPT platform, sparking fresh concerns over the...

Baptista Research

H-1B Fee Fallout: An Employee’s Perspective and Implications for Indian IT

​Trump's $100,000 fee for new H-1B petitions causes anxiety, travel confusion, and negative market reaction for Indian IT names, leading to...

Pranav Bhavsar

Reddit Inc (RDDT) - Monday, Jun 16, 2025

The author is bullish on Reddit (RDDT US) as a strong multi-year investment, forecasting significant revenue growth and free cash flow, despite...

Value Investors Club (VIC)

Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

Downgrading Utilities $XLU to Market Weight; Bullish Outlook Intact; Time for Prior Leadership to Shine? $IGV $PLTR $APP $SOUN $RZLV $SHOP $FROG $U...

Vermilion Research

Trump's $100,000 fee for new H-1B petitions causes anxiety, travel confusion, and negative market reaction for Indian IT names, leading to...