Research & data
What the numbers on a company page mean, where each of them is sourced from, and what none of them can tell you.
Articles
How to read a company page. What the valuation, the last round, the share price and the news timeline on a company page mean — and what they deliberately do not include. Where private company valuations come from. Four sources — priced rounds, secondary trades, tender offers and 409A — why they disagree, and which one to trust for what.
Common questions
Where do the valuations on company pages come from?
From priced rounds, reported secondary transactions, tender offers and, where relevant, 409A appraisals — each figure carries its source and its date. The four sources disagree by design; where private company valuations come from explains why.
Is a company page a recommendation to buy?
No. Market Intelligence is information — valuation history, funding rounds, dated sources and company news. It carries no price target, no forecast and no recommendation, and nothing on it should be read as investment advice.