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.