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>Scale (2021 valuation: $7.3B) launched in 2016 as a Mechanical Turk for machine learning, providing an API and workflow into Filipino, Nigerian and Kenyan workers for machine learning data labeling tasks—in 2022, Scale AI grew 61% to ~$290M in revenue.</li><li>In the post-zero interest rate environment of 2022-23, AV data labeling workloads have declined alongside the decreasing investment in R&D—see the closure of AV startups like Argo AI (2021 valuation: $7.5B) and Lyft (NASDAQ: LYFT) and Uber (NYSE: UBER) discontinuing their self-driving car units.</li><li>Scale’s vertically integrated platform helps them sell into enterprise and government—who have a greater need for consolidation and a harder time hiring to build and secure their own ML infrastructure—with Scale already winning $300M+ in contracts with the Department of Defense to work on image and text analysis for national security.</li></ul>

Scale (2021 valuation: $7.3B) launched in 2016 as a Mechanical Turk for machine learning, providing an API and workflow into Filipino, Nigerian and Kenyan workers for machine learning data labeling tasks—in 2022, Scale AI grew 61% to ~$290M in revenue.In the post-zero interest rate environment of 2022-23, AV data labeling workloads have declined alongside the decreasing investment in R&D—see the closure of AV startups like Argo AI (2021 valuation: $7.5B) and Lyft (NASDAQ: LYFT) and Uber (NYSE: UBER) discontinuing their self-driving car units.Scale’s vertically integrated platform helps them sell into enterprise and government—who have a greater need for consolidation and a harder time hiring to build and secure their own ML infrastructure—with Scale already winning $300M+ in contracts with the Department of Defense to work on image and text analysis for national security.

Scale: The $290M/year Mechanical Turk Of Machine Learning

<ul><li>Link-in-bio companies like Linktree and Beacons reinvented About.me for Gen Z as a website generator that lets you route traffic from super-platforms like Instagram and TikTok to your content and sources of income.</li><li>Linktree ended 2021 with 24M users and $26M ARR—today, they’re at around $33M ARR with ~31M users, growing 29% YoY.</li><li>Link-in-bio sits at the strategic position where creators route traffic off platform onto an owned property which gives it the opportunity to capture traffic, de-anonymize traffic and monetize traffic.</li></ul>

Link-in-bio companies like Linktree and Beacons reinvented About.me for Gen Z as a website generator that lets you route traffic from super-platforms like Instagram and TikTok to your content and sources of income.Linktree ended 2021 with 24M users and $26M ARR—today, they’re at around $33M ARR with ~31M users, growing 29% YoY.Link-in-bio sits at the strategic position where creators route traffic off platform onto an owned property which gives it the opportunity to capture traffic, de-anonymize traffic and monetize traffic.

Linktree: The $33M ARR About.Me For Gen Z

<ul><li>Many link-in-bio companies do seem to be going in this direction, which is definitely more valuable for creators than just routing traffic.</li><li>We are already de-anonymizing traffic for creators through helping them collect data on their audience with our link-in-bio product, and we’ll continue to invest in this area.</li><li>We think it makes more sense to continue focusing on creators and trying to build more products for them.</li></ul>

Many link-in-bio companies do seem to be going in this direction, which is definitely more valuable for creators than just routing traffic.We are already de-anonymizing traffic for creators through helping them collect data on their audience with our link-in-bio product, and we’ll continue to invest in this area.We think it makes more sense to continue focusing on creators and trying to build more products for them.

Neal Jean, CEO Of Beacons, On Building Vertical SaaS For Creators

<ul><li>Today, at more than $100M in annually recurring revenue growing 70% year-over-year, Airtable’s growth is accelerating, both due to COVID tailwinds and Airtable’s aggressive push upmarket.</li><li>Airtable does have the opportunity to be one of the biggest players in the no/low-code industry.</li><li>We estimate Airtable’s ARR at $115M for a valuation of about $7.7B.</li></ul>

Today, at more than $100M in annually recurring revenue growing 70% year-over-year, Airtable’s growth is accelerating, both due to COVID tailwinds and Airtable’s aggressive push upmarket.Airtable does have the opportunity to be one of the biggest players in the no/low-code industry.We estimate Airtable’s ARR at $115M for a valuation of about $7.7B.

Airtable: The $7.7B Roblox Of The Enterprise

<ul><li>We talk to angel investor David Peterson about how product-led growth is changing, with the rise of the hybrid self-serve/enterprise GTM and the increasing importance of customer success.</li><li>We&#39;re evolving into a new era because there are these really fundamental challenges with that first era of product led growth.</li><li>Now, people are just launching with that stuff on day one. Right? That is like a fundamentally different approach to go to market.</li></ul>

We talk to angel investor David Peterson about how product-led growth is changing, with the rise of the hybrid self-serve/enterprise GTM and the increasing importance of customer success.We&#39;re evolving into a new era because there are these really fundamental challenges with that first era of product led growth.Now, people are just launching with that stuff on day one. Right? That is like a fundamentally different approach to go to market.

David Peterson, Early Airtable Employee, On The Future Of product-led Growth

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Website builder with visual editor, CMS, and hosting for no-code custom sites

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Scale: The $290M/year Mechanical Turk Of Machine Learning

Scale (dataset), formerly Scale AI, built a $290M/year revenue business indexed on labeling data for AI in the world of atoms, from autonomous...

Sacra

Linktree: The $33M ARR About.Me For Gen Z

Link-in-bio companies found initial product-market fit as a demilitarized zone (DMZ) that created a buffer between authoritarian, puritanical...

Sacra

Neal Jean, CEO Of Beacons, On Building Vertical SaaS For Creators

Sacra interview with Neal Jean, CEO and co-founder of Beacons.

Sacra

Airtable: The $7.7B Roblox Of The Enterprise

At more than $100M ARR, we estimate spreadsheet-database hybrid Airtable, co-founded by CEO Howie Liu, to have a valuation at $7.7B based on their...

Sacra

David Peterson, Early Airtable Employee, On The Future Of product-led Growth

We talk to angel investor David Peterson about how product-led growth is changing, with the rise of the hybrid self-serve/enterprise GTM and the...

Sacra

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