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ZX Data private stock trade

Executive Summary

ZX Market Snapshot: February 2023:

  • Flexport, Stripe and SpaceX were the three most active companies on ZX in February.
  • Bids represented 32% of submitted tickets on ZX in February, a 2% increase from the 12-month average of 30%.
  • February transactions priced from a 73.4% discount to a 16.9% premium to December average reported holding values.

ZXData Reported Holdings: Three months ending December 31st, 2022

  • This quarter reporting holders marked down their private portfolios 4.0% with an average mark-down of 10.0%. The period saw five companies decline for every two companies advancing.
  • Sentiment up:
  • Sentiment down:

Heat Map: December 31st, 2022 Reporting Period

-4.0%

Appreciation/Depreciation of All Reported Holdings1

-10.0%

Average Mark-Up/Mark-Down Across All Reported Holdings2
Go Maps
889.1%
Fabletics
127.6%
Evernote
112.7%
JUUL
73.5%
Savage X
67.8%
Wag
54.0%
SingleStore
51.3%
Starling Bank
47.3%
Carbon Health
32.8%
Johnnie-O
27.2%
Via Transportation
27.2%
SmartHR
26.4%
Yasso
26.0%
BigID
25.1%
Druva
22.8%
Xsight Labs
21.3%
CapLinked
20.0%
Tenstorrent
19.1%
Meesho
16.1%
Earnin
15.8%
Binx Health
14.6%
SiMa ai
13.6%
SpaceX
13.6%
Asapp
13.5%
Volocopter
13.3%
Blink Health
11.7%
Noodle
11.5%
Ursa
10.5%
Andpad
10.3%
EverDrop
9.2%
Resident Home
8.3%
Bytedance
7.8%
CloudBees
7.7%
DNA Script
6.8%
SiFive
6.2%
Acrisure
5.5%
WorkRise
3.7%
Code 42
3.1%
CiBo
2.7%
Pine Labs
2.4%
Diamond Foundry
2.3%
Trumid
2.3%
CNEX Labs
2.2%
Outreach
2.0%
Netskope
1.8%
Cybereason
1.7%
Discord
1.7%
Essence Group
1.7%
FlixBus
1.7%
Motive (KeepTruckin)
1.7%
ResearchGate
1.7%
WSO2
1.7%
Docker
1.6%
Ant Financial
1.4%
CaaStle
1.1%
Houzz
1.1%
Fanatics
0.8%
Skyryse
0.4%
Click Therapeutics
0.3%
Brain Corp
0.2%
Hydrow
0.2%
Instacart
0.2%
Rubrik
0.2%
Beta Bionics
0.1%
Snyk
0.1%
YAP Therapeutics
0.1%
Airtable
0.0%
Arbor Bio
0.0%
Arcadia
0.0%
Better.com
0.0%
Caris
0.0%
Cellanome
0.0%
Celonis
0.0%
Cerebras
0.0%
Chroma
0.0%
ChromaCode
0.0%
Clear Labs
0.0%
Cleerly
0.0%
Coalition
0.0%
Convoy
0.0%
Crossover Health
0.0%
Curology
0.0%
Delfi
0.0%
Devoted
0.0%
Dialpad
0.0%
dMed
0.0%
Eikon
0.0%
Element Bio
0.0%
EndeavorBio
0.0%
Epirus
0.0%
EquipmentShare
0.0%
Eruditus
0.0%
Evolve Vacation
0.0%
Filevine
0.0%
FlashParking
0.0%
FLEXE
0.0%
Freenome
0.0%
Frubana
0.0%
Fundbox
0.0%
Generate Bio
0.0%
Genesis Therapeutics
0.0%
GroundTruth
0.0%
GrubMarket
0.0%
Harness
0.0%
HaulHub
0.0%
Heal
0.0%
Heap
0.0%
Hover
0.0%
INRIX
0.0%
Inscripta
0.0%
InSilico
0.0%
Insitro
0.0%
IntelyCare
0.0%
Invaio Sciences
0.0%
Jerry
0.0%
Kardium
0.0%
KoBold Metals
0.0%
Lumicks
0.0%
Minted
0.0%
Moshi (Mind Candy)
0.0%
Neurogene
0.0%
Nurx
0.0%
Nutcracker
0.0%
Odyssey Therapeutics
0.0%
Omio
0.0%
Overtime
0.0%
Passport
0.0%
Printify
0.0%
PrognomIQ
0.0%
PsiQuantum
0.0%
Redwood Materials
0.0%
RefleXion Medical
0.0%
Resilience
0.0%
Ring Therapeutics
0.0%
SalioGen
0.0%
Saluda Medical
0.0%
Scribe
0.0%
SecurityScorecard
0.0%
Seismic
0.0%
Sila Nano
0.0%
Sionna
0.0%
Solugen
0.0%
Stash
0.0%
StockX
0.0%
Tarana
0.0%
Tebra (PatientPop)
0.0%
Tempus Labs
0.0%
Tessera
0.0%
Treeline Bio
0.0%
True Footage
0.0%
Udacity
0.0%
Uniphore
0.0%
Verily
0.0%
Voyager Space
0.0%
WiTricity
0.0%
Course Hero
-0.1%
CelLink
-0.2%
Checkr
-0.2%
Adagio Medical
-0.3%
Turo
-0.3%
Plastiq
-0.4%
Domino Data
-0.6%
Lyst
-0.7%
Astera Labs
-0.9%
Mynd Management
-0.9%
ConsenSys
-1.0%
Prosper Marketplace
-1.0%
Verbit
-1.0%
Databricks
-1.4%
Ocrolus
-1.5%
Nanotronics
-1.7%
Laronde
-1.9%
Betterment
-2.0%
Roofstock
-2.3%
Omada Health
-2.4%
Cohere Technologies
-2.6%
Deep Instinct
-2.6%
Envoy
-2.6%
OpenX
-2.6%
Astranis
-2.7%
GOAT
-2.7%
Rapyd
-2.8%
Cohesity
-2.9%
Collective Health
-2.9%
Gusto
-2.9%
Lyra Health
-2.9%
Tealium
-2.9%
Neon
-3.1%
Centrexion
-3.2%
Exabeam
-3.3%
Intercom
-3.4%
Aledade
-3.6%
Musely
-3.6%
Verge Genomics
-3.7%
Swiggy
-3.9%
BYJU's
-4.2%
Algolia
-4.8%
Tory Burch
-5.1%
GupShup
-5.3%
Loadsmart
-5.3%
Axiom Space
-5.5%
Contrast Security
-5.5%
GaN Systems
-5.7%
Dataminr
-5.9%
Bolt Threads
-6.0%
Figure Technologies
-6.0%
Reddit
-6.4%
D2iQ
-6.7%
Lookout
-6.8%
Patreon
-6.8%
Rhino Labs
-7.0%
Somatus
-7.1%
Impossible Foods
-7.5%
SambaNova
-7.5%
Highspot
-8.1%
Breeze Airways
-8.2%
Accelerant
-8.3%
Grammarly
-8.3%
Farmers Business Network
-8.8%
ServiceTitan
-8.8%
WideOrbit
-8.8%
RealSelf
-8.9%
Stripe
-9.2%
Flexport
-9.4%
NextRoll
-9.6%
Relativity Space
-9.8%
StubHub
-9.8%
Creditas
-10.2%
Bolt
-10.5%
Epic Games
-10.9%
Lime
-11.4%
Ripple
-11.5%
Skydio
-11.5%
DataStax
-11.7%
Malwarebytes
-11.7%
Voltron Data
-11.7%
Whoop
-11.8%
Zipline
-12.0%
Clio
-12.2%
Bolt Financial
-12.3%
Illumio
-12.4%
MasterClass
-12.5%
High Power Exploration
-12.9%
Apartment List
-13.4%
Carbon 3D
-13.4%
Prosimo
-13.4%
Grand Rounds
-13.9%
Nanosys
-14.0%
Thriveworks
-14.4%
Revolut
-15.2%
QuintoAndar
-15.3%
Thrasio
-16.0%
Cadre
-16.3%
Foursquare
-16.5%
Trax
-17.6%
EverlyWell
-18.2%
Tanium
-18.2%
Zocdoc
-18.7%
Magic Leap
-19.3%
ElevateBio
-20.0%
Honor Tech
-20.4%
JumpCloud
-20.5%
BETA Technologies
-20.9%
DataRobot
-21.6%
Rad Power
-21.9%
MNTN
-22.2%
Automattic
-22.3%
Pivot Bio
-22.4%
Exo Imaging
-23.0%
Snorkel AI
-23.0%
Einride
-23.3%
Automation Anywhere
-24.1%
Yotpo
-24.4%
Zero Mass Water
-24.6%
FabFitFun
-25.0%
Icertis
-25.0%
Getir
-25.2%
Delphix
-25.7%
FogPharma
-25.7%
Bombas
-26.4%
goPuff
-26.5%
Bowery
-27.9%
Tipalti
-28.1%
Rappi
-30.1%
Wine.com
-33.5%
ThoughtSpot
-34.1%
Headspace
-36.3%
ABL Space
-36.5%
Cava
-38.8%
Socure
-38.8%
Enevate
-39.6%
Nuro
-40.0%
Canva
-41.2%
Talkdesk
-41.4%
Circle
-42.4%
Kraken
-42.9%
Contentful
-47.7%
Waymo
-48.4%
Forum Brands
-49.7%
Scale AI
-50.2%
Color Genomics
-50.5%
PACT Pharma
-52.2%
Carta
-54.2%
Unqork
-62.6%
I-Pulse
-70.9%
Capsule
-71.9%
OfferUp
-79.2%
Mythic AI
-95.6%

1 Dollar-weighted return on all reported holdings
2 Equal-weighted mark-up or mark-down across all reported holdings

Analysis

Positive Trend Reversal3 (# = consecutive prior qtrs marked down or flat)
Negative Trend Reversal4 (# = consecutive prior qtrs marked up or flat)
Positive Trend Reversal3 (# = consecutive prior qtrs marked down or flat)
Houzz
9
ANT Financial
8
Go Maps
8
Resident Home
6
Negative Trend Reversal4 (# = consecutive prior qtrs marked up or flat)
Waymo
7
Cava, Evolve Vacation
5
Color Genomics
5
I-Pulse, Nuro
5

3 Positive Trend Reversal reflects an individual holding marked up after consecutive quarterly periods marked down or flat
4 Negative Trend Reversal reflects an individual holding marked down after consecutive quarterly periods marked up or flat

Highest Variance in Reported Marks5
CompanyNormalized Std Dev5$ Weighted AvgMaxMin
Houzz1.12$2.16$5.69$0.08
Dialpad.71$5.03$10.22$2.60
Magic Leap.67$10.43$19.20$0.00
Laronde.59$15.42$23.98$5.60
GOAT.52$2.42$5.14$1.84

5 Normalized Standard Deviation is used to express the measure of spread across reported marks and allows for comparison between companies independent of their price per share based on a dollar-weighted average.

ZX Marketed Bids at Greatest Premium to Latest Reported Median Holding Value6
Carta
+46.2%
Canva
+29.4%
Docker
+22.2%
ZX Marketed Offers at Greatest Discount to Latest Reported Median Holding Value6
Bolt Financial
-83.2%
Ripple
-73.4%
ConsenSys
-72.2%
Kraken
-64.2%

6 Premium and Discount agnostic to share class

ZX Market Snapshot: February 2023

Most Active Companies7

1
Flexport
2
Stripe
3
SpaceX
4
Databricks
5
OpenAI
6
Jasper
7
Epic Games
8
Discord
9
Snyk
10
Deel

7 Companies that received the most ticket and profile view activity over the last 30 days

Flexport, Stripe and SpaceX were the three most active companies on ZX in February.

Bids represented 32% of submitted tickets on ZX in February, a 2% increase from the 12-month average of 30%. February transactions priced from a 73.4% discount to a 16.9% premium to December average reported holding values.

On average, ZX Sell Orders sit at a 32.8% discount to December’s median holding values, highlighted by offers in Bolt Financial, Ripple, ConsenSys and Kraken. On the buyside, Carta, Canva & Docker averaged a 32.6% premium to December’s median holding values.

ZXData Reported Holdings Commentary: Three months ending December 31st, 2022

This quarter, reporting holders marked down their private portfolios 4.0% with an average mark-down of 10.0%. The period saw five companies decline for every two advancing companies.

Go Maps saw the largest mark-up this reporting period, with Fabletics, Evernote and JUUL rounding out the largest gainers. Human Resources, Clothing & Apparel and Aerospace saw the largest appreciation across sectors. Mythic AI saw the largest mark-down this reporting period, with OfferUp, Capsule and I-Pulse rounding out the largest decliners. Blockchain / Cryptocurrency, Automotive and Transportation saw the largest depreciation across sectors.

Houzz saw its first positive reversals in 9 quarters while Ant Financial and Go Maps saw their first positive reversals in two years. Waymo, Cava and Evolve Vacation all saw their first negative reversals in nine quarters.

This period, Houzz ($0.08 - $5.69) saw the highest share price variance across funds followed by Dialpad ($2.60 - $10.22) and Magic Leap ($0.00 - $19.20).

Disclaimer

This report is based on data reported by 250+ funds and $40 billion+ of value. Many holders of private company shares do not report their holding values and are thus not included in this report’s dataset. Further, many venture-backed private companies are not held by any reporting funds and are thus not included in this report. As such, this report should not be construed as providing a complete picture of shareholder sentiment or venture-backed private company performance. This report does not constitute investment advice or a "research report" as defined by FINRA Rules.

Zanbato, Inc. (“Zanbato”) prepares and disseminates market information about venture-backed private company securities, and the current bids and offers for those securities listed on the ATS operated by Zanbato (“ZX”). The information provided in this report has been prepared by sales, trading, or other non-research functions. Pricing indications and macro commentary are provided for factual information purposes only. This report is not intended to assess the individual merits of a particular investment or strategy, does not constitute a recommendation to buy or sell any financial instrument or to participate in any trading strategy and should not be construed as such. This report does not constitute investment advice. Certain information in this report has been obtained from third party sources and, while such information is believed by Zanbato to be reliable, it has not been independently verified by Zanbato and Zanbato shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with any use of, or reliance on, such third party information. Furthermore, the information contained in this report may not be current due to, among other things, changes in the financial markets or economic environment. Zanbato does not, and has no obligation to, update any such information contained in this report. Any prices or quotations contained herein are indicative only, do not represent firm quotes as to either price or size and should not be used for valuation purposes.

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