Anthropic · TechCrunch AI
Anthropic is having a moment in the private markets; SpaceX could spoil the party
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Glen Anderson has been brokering trades in private company shares since 2010, back when the number of institutional investors focused on the late-stage private market could be counted on two hands.
Key facts
- To put a finer point on that comment: SpaceX was valued at roughly $12 billion in 2015, when Google and Fidelity jointly invested $1 billion in the company
- Only Saudi Aramco’s 2019 debut, which valued the energy giant at $1.7 trillion, has come close
- On valuation, Anderson broadly confirmed Bloomberg’s reporting that OpenAI shares on the secondary market are trading as if the company were valued at $765 billion, an appreciable discount
- Glen Anderson has been brokering trades in private company shares since 2010, back when the number of institutional investors focused on the late-stage private market could be counted on two hands
Summary
As president of the investment bank Rainmaker Securities, whose focus includes private securities markets, it facilitates transactions in roughly 1,000 stocks a turn of events that initially seemed like bad news for the company but has wound up becoming a gift. “The app got more popular, people rallied around the company as kind of a hero, taking on big government,” he said. That distinction is becoming increasingly meaningful to investors navigating a market where, for years, the prevailing logic was to bet on everyone. “I wouldn’t say it’s a one-or-the-other conversation,” he said.