SAI 25: The World's Most Valuable Digital Startups
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Richard McRoskey
Jay Yarow
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Welcome to The SAI 25: The World's Most Valuable Digital Startups! Start >
Wondering how much your private company is worth? (Or your stock options in your private company?) Curious where your company ranks in the pantheon of digital market values? Wondering which companies might be next in line for a blockbuster IPO? Then you've come to the right place.
In the SAI 25, we value and rank some of the world's leading private digital companies (not all--some. We hope to get them all eventually, but we're going to need a lot more help from you). The SAI 25 is an iterative list: Thanks to input from our readers, sources, and our Advisory Board, it will get more accurate and comprehensive every day. Please help us make it better--by posting insight and information to the company pages or sending to tips@alleyinsider.com. You can nominate new companies, share additional info, or tell us why you think a company deserves a higher or lower valuation.
Scroll down for the current SAI 25. Or, if you can't stand the suspense, click the "Start" button. Scroll though the list using the buttons on the right side of each company page, under the SAI 25 link.* Start >
Not Your Grandmother's Company List
The SAI 25 is not a static brag-sheet, updated and published once a year. On the contrary: it changes as facts and markets change--and, in this industry, they change fast. Private company values change in real-time, just like public-company values, and so will the SAI 25 (If you want to see the up-to-minute value of your company, just click here).
So far, the SAI 25 ranks the world's 25 most valuable digital companies and 25 additional "Contenders." As we get to know more companies, we will add them to the list. (We'll be adding another 25 or so in a couple of weeks). Some of today's SAI 25 will soon stagnate or tumble in value, and they will quickly be replaced with rising stars. But we'll rank all of the companies we follow--even those outside of the SAI 25.
The SAI 25 is a global list and includes companies in Europe and Asia as well as in the US (so if you've never heard of some of the companies, that's probably why).
Check Back Every Month For Your New Valuation!
We only have limited information for many companies on the list, and as we learn more, our valuations may change-- sometimes radically. If you disagree with a valuation, please feel free to tell us why. (We keep all input on background, so don't worry about sharing financial information that you don't otherwise release publicly.)
With the help of our readers, we will continuously refine the SAI 25, incorporating new information, adding new companies, and updating valuations as conditions change. We will also formally re-value and re-order the companies once a month, so check back frequently to see how you're doing.
Methodology
We use a relatively consistent methodology to value the SAI 25, which we describe in detail here. All valuation estimates are subjective, though, and they are highly dependent on information. If your first reaction upon seeing a particular valuation is to curse us or roll your eyes, it might just be that we didn't have enough information. (Or it might be that you're spending too much time reading your own press releases.) In any event, if you think our valuation is off, and you want next month's to be more accurate, please share some of your information with us (on background, of course).
SAI 25 Live: Real Time Valuations!
Like public companies, the value of private companies change in real-time, but there's no convenient way to track these changes...until now. We've created a real-time tool, the SAI 25 Live, that indexes the value of the SAI 25 companies to the NASDAQ. The SAI 25 Live updates the values in real-time (with a 20-minute delay). So if you're jealous of all your friends at public companies who can recalculate their net worth all day, just check out the SAI 25 Live. This will tell how much your stock options are worth right now.
Acknowledgments
Before moving on to the initial list, we want to thank the hundreds of companies, investors, and executives who have taken time over the past few months to submit nominations and share information with us. Thanks also to our teammates Jay Yarow and Ricky McRoskey, who did the bulk of the background research. Thanks to our SAI 25 Advisory Board--Kevin Ryan, Dwight Merriman, David Siminoff, Danny Rimer, Jim McGregor and their colleagues--who shared thoughts and helped us refine the list. And thanks to our generous sponsor, Sun Microsystems, who has made the whole project possible.
THE SAI 25: THE WORLD'S MOST VALUABLE STARTUPS
| Rank |
Company | Valuation |
| 1. | Facebook |
$9 billion |
| 2. | Wikipedia |
$7 billion |
| 3. | Craigslist |
$5 billion |
| 4. | Betfair |
$5 billion |
| 5. | Mozilla Corp |
$4 billion |
| 6. | Yandex |
$3 billion |
| 7. | Webkinz |
$2 billion |
| 8. | $1.3 billion | |
| 9. | Habbo | $1.25 billion |
| 10. | Oanda | $1.2 billion |
| 11. | Linden Lab |
$1.1 billion |
| 12. | Kayak |
$1 billion |
| 13. | QlikTech |
$850 million |
| 14. | Ning |
$560 million |
| 15. | Slide |
$550 million |
| 16. | TheLadders |
$500 million |
| 17. | Stardoll |
$450 million |
| 18. | Ozon |
$450 million |
| 19. | Thumbplay |
$400 million |
| 20. | Glam Media |
$400 million |
| 21. | Rock You |
$325 million |
| 22. | Tudou |
$300 million |
| 23. | Efficient Frontier | $275 million |
| 24. | Zazzle | $250 million |
| 25. | Spot Runner | $250 million |
| Contenders |
||
| Federated Media | $245 million |
|
| Yelp | $225 million | |
| Meebo | $220 million | |
| Indeed | $200 million | |
| Zillow | $200 million | |
| LoveFilm | $200 million | |
| Metacafe | $200 million | |
| Adconion | $200 million | |
| 4INFO | $175 million | |
| Photobox | $150 million | |
| Vibrant Media | $150 million | |
| Gawker Media | $150 million | |
| Mahalo | $150 million | |
| $150 million | ||
| Youku | $125 million | |
| Digg | $125 million | |
| Etsy | $115 million | |
| LinkExperts | $100 million | |
| Powerset | $80 million | |
| Trialpay | $80 million | |
| Huffington Post | $75 million | |
| Associated Content | $65 million | |
| Live Gamer | $60 million | |
| $75 million | ||
| Mint | $50 million | |
| Prosper | <$50 million | |


Joker - this sounds like its intended to be iterative based on the market's feedback and newly collected data - so you should send your feedback in and be productive. I applaud these guys for trying something new.
There are many great companies on this list and some that do very little PR.
Looking forward to watching this grow...
In addition to that problem, what is there to do on Facebook after you have connected with all your friends? And the plan is to be ad supported indefinitely? How much more can Facebook grow? What other uses does it have? MySpace and Facebook keep adding things like IM clients, and video and music, and before you know it they're going to look a lot like AOL of the late 90's, except without the ISP and monthly charge parts.
Also you have evaluated Mahalo above Digg. How come?
This is nothing more than a list of the most hyped startups in the American media.
This is a really an exciting time for the Internet space. Let's hope these valuations are realistic before it becomes a bubble waiting to burst.
Nonetheless, I am optimistic that the web will continue to innovate with more features, usability and relevant tools that people can use to enhance their lifestyle and business. Let's be cautious and pray we are on the right track.
"A speedy train can get off course or might even crash if it's running like crazy" - By me, Darren
As for everyone else, yes--please send us your feedback or post it in the comments on the company pages, and we'll factor it into the next round of changes, which we'll start making this week. (Observation from past experience: The less dismissive or rude you are in your note or comment, the more we'll take it seriously.)
Oh, and no chance that company ever gets taken out at a valuation anywhere close to that.
This demonstrates very poor analysis. Go back and rework this.
Either way, good reading and thanks for putting it together.
i know it must have been hard to pull this together, but this list will be incredibly valuable over time - to the community and you/SAI are going to make a ton of $$ from this.
this is such a logical extension of the dow jones industrial average, s&p500, nasdaq, indexes...
Nice list, roughly makes sense but lots to disagree with (as you would expect). However one clear mistake is Betfair. They should be valued at $3 billion. They just did a recapitalisation which distributed 10% of the company in cash to shareholders (I got the check this morning). It was at a valuation of £1.5 billion, so unless you are even more bearish on the exchange rate that works out at $3 billion.
Great that you have tried to go global on this and not just put a list of US startups on there. That said I'm a bit confused by the Chinese ones. Seems like you have used the same valuation metrics as the video-sharing and socialnets in the US for them. On video-sharing in particular the streaming costs here are massive (need to use China-based CDN's so no akami etc) and all those companies Tudou, Youku etc are bleeding cash with tiny tiny revenues. Tudou just raised $57m yesterday but not at anywhere near $300m from what I heard.
Couple of suggestions from Asia:
1. What about all the Alibaba stuff which wasn't in the Alibaba.com float such as Yahoo China, Alipay (chinese version of paypal), Taobao (Chinese version of ebay), Alimama (chinese version of ad network) and Alisoft etc, surely this has to be worth way more than the overhyped vid sharing and socialnets you have on there?
2. Keep an eye on Vietnam's Vinagame, probably not going to get on the list yet but will surely get there - already dominates the online gaming market in Vietnam and has a host of leading and fast following consumer Internet propositions.
Great initiave to do this. Hope it will evolve and change based on the feedback you get.
When you recommend a company or companies, please feel free to send or link to any good sources of info about it.
Thanks for the info on Betfair--that's exactly the sort of concrete detail we're especially looking for. We'll see if we can confirm, and, if so, the valuation will drop to $3 billion.
Thanks again.
the list is interesting and definitely worthwhile. the companies and products are undoubtedly cutting edge and market leaders and forward-thinkers etc. and SAI's got as much data and knowledge and relationships as anyone to try to put together such a list
but to add fictional (or worse) "valuations" is a disservice to your readers and yourselves -- if we want cheerleading we will read press releases. at SAI we expect insights and thoughtful views. c'mon folks - admit "mistakes were made" and get rid of the valuations, please?
Just my 2 cents.
1. Cyworld
2. Bebo
You are hilarious. Betfair doesn't have any US or Japanese customers therefore it shouldn't be on the list!? Er, like that's right, internet is broken outside those two countries.
Betfair doesn't have US customers because online betting is illegal there. We even have 24 hour drinking in the UK and you can get a beer at 18. Freedom is a great thing. You guys should try it some time :-)
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2. I thought you could do better for "#9" :)
Is this just consumer facing startups? I'd like to see a few of the following startups that have a combo of great market traction with their customers (consumer or b2b) and some money in the bank -
- MyYearbook
- Brightcove
- Quantcast
- Move Networks
- Trulia
- Ezrez
- Revision3
Sincerely,
Milred E. Smith
Joost - raised $45M plus the $20M or the founders put in
eHarmony - 16M users and $113M in funding
Mimeo - over $75M in funding
My company makes milions a year on good, solid, talented internet developers doing good, solid, paying work that makes people money and adds value. What would you call us worth? $30 mil if we're lucky. Yet I could take all these developers and make 10 twitters in a year, and you'd call us worth 10 times that, even though we added value to no one, accomplished nothing, did nothing new for anyone, and stopped making any money.
The community space is played out. I'd be surprised if 10 of these companies ever make anyone besides their founders a penny. Agencies are concerned less and less about display ads and social has panned out for no one - the ad money is moving into gaming, MMOs and content.
It never ceases to amaze me how the entire web 2.0 economy is all about "advertising" but no one from the ad world is ever actually consulted.
Link: http://feeds.feedburner.com/~r/newteevee/~3/280212766/
"Co-founders Arik Czerniak and Ofer Adler each reportedly held a fully vested 2.5 percent of Metacafe, which was valued at $50 million for the purposes of the transaction. They are no longer involved with the company."
Author: ~Liz Gannes
Publication Date: 4/29/2008 1:16:57 PM
So what is it worth today Henry?
It seems they plan to take on craigslist and kijiji on head to head.
im hearing a lot of buzz around this website but I have not heard of any funding or any press news from it.
any help here.
Just my two cents.
- Adam
We're 3 years old, backed by Accel and Sequoia, and raised around $18m.
We have a similarly sized audience to Zillow (some people put us higher in unqiues, others lower), but growing much much faster and all achieved on a much smaller investment. We're on track for profitability by year end.
Happy to give you more info and metrics if you're interested in helping to figure out the valuation. Just ping me.
Pete
CEO/Co-Founder
Trulia.com
Feel free to contact me for any questions.
Regards,
Payam Zamani
CEO / Reply.com