Private Markets, Angel and Secondary Investing, Sacra

Sacra

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 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>NordicTrack’s ski machine (1975) and Bowflex’s 2000X (1986) kickstarted the home fitness era, and machines for doing different kinds of exercises at home—running, elliptical, rowing, weights—proliferated on the market.</li><li>Peloton (NASDAQ: PTON) took spin classes out of the studio and delivered them on-demand via subscription SaaS (70% gross margin) to high-resale-value bikes they manufactured themselves, notching LTV of $7K+—but post COVID, with CAC up by 20-30%, demand waning and the resale value of the bikes falling, their economics went upside down.</li><li>Under new CEO Barry McCarthy, Peloton has explored new business models like gaming that can drive more software margins—unlike content which requires paying live instructors and 30%+ royalties to music labels—along with becoming an app store by up the Peloton ecosystem to third-party app developers.</li></ul>

NordicTrack’s ski machine (1975) and Bowflex’s 2000X (1986) kickstarted the home fitness era, and machines for doing different kinds of exercises at home—running, elliptical, rowing, weights—proliferated on the market.Peloton (NASDAQ: PTON) took spin classes out of the studio and delivered them on-demand via subscription SaaS (70% gross margin) to high-resale-value bikes they manufactured themselves, notching LTV of $7K+—but post COVID, with CAC up by 20-30%, demand waning and the resale value of the bikes falling, their economics went upside down.Under new CEO Barry McCarthy, Peloton has explored new business models like gaming that can drive more software margins—unlike content which requires paying live instructors and 30%+ royalties to music labels—along with becoming an app store by up the Peloton ecosystem to third-party app developers.

Aviron

Aviron And The Xbox Of Connected Fitness