Explainers
Anthropic's Pre-IPO Valuation: What the Numbers Say
Anthropic's last primary round marked it at $965 billion, secondary trades imply more, and a Solana token with a similar name reflects none of it. Here is how to read each figure.
pre-ipo
Explainers
Oura IPO Valuation: From $11B to a Postponed Deal
Oura's IPO valuation moved from an $11B private round to a roughly $15.6B indicative range, then the deal was postponed. Here is the timeline with sources, plus what a tokenized Oura wrapper trading onchain does and does not tell you.
Explainers
Anduril's Pre-IPO Valuation: What the Numbers Mean
Anduril was marked at $61 billion in May 2026 and is reportedly in talks for more. Here is what the valuation reflects, why reported marks differ, and why a tokenized version trading on a blockchain is not the same number.
Explainers
How to Sell Pre-IPO Shares: Tender Offers and Secondaries
Selling shares in a company that has not gone public is legal but constrained. Here are the real routes, who can use them, and the frictions that decide whether a sale ever closes.
Explainers
SpaceX Valuation: From Tender Offers to $1.98T
For years SpaceX had a price only a handful of insiders could see. Then it listed on Nasdaq at the largest IPO in Wall Street history. Here is how its valuation was set before and after the bell.
Explainers
How to Invest in Pre-IPO Shares Before the Bell
Pre-IPO investing used to be walled off to insiders and funds. Here is how it actually works, who can participate, and why tokenized private shares are shaking up the old rules.
Explainers
Can You Price an IPO Before the IPO?
Companies stay private longer, so investors and reporters increasingly try to read a company's value before its IPO. Here is how pre-IPO pricing actually works, what signals it, and where the gaps are.