SAI 25: The World's Most Valuable Digital Startups

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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.

 

Start >

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. LinkedIn $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

56.com

$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

Twitter $75 million

Mint $50 million

Prosper <$50 million

59 Comments

Albert said:
Why does it require me to login when viewing the other articles?

joker said:
You guys have totally blown it this time. This list is pathetic. Might as well just done a list based on who has the best press people to compile this. Mahalo - no business. Powerset ? Are you kidding? Not even launched and currently out of money. Stardoll. I'm completely lost. Is this simply based on last money raised -- which we've learned over the years means nothing. This is pathetic.

Jason Meyer said:
Guys - this list looks like a great start and a great concept.

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...


I think social networking sites based with a large teenaged user base are possibly fadish and have the chance of having absolutely no future whatsoever. That no one seems to wants to calculate that risk into the worth of something like Facebook I think is puzzling.

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?

Hayden said:
You forgot Automattic/WordPress. Looking at your list, I'd say they should bein the top 10.

absurd putting zazzle in there at 250m and not mentioning cafepress.com. cafepress is much bigger, has more traffic, and much more revenue. do a comparison with any of the traffic services.

is_this_a_joke? said:
The *world's* most valuable startups? And just one Chinese startup on the list? I think you need to rework your methodology and do a little more research.

This is nothing more than a list of the most hyped startups in the American media.

Firstly, where is Google?

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

Henry Blodget said:
Thanks for the kind words so far. This is indeed an iterative list, and what you see above is only a start (one that took a surprising amount of work just to get to this raw state, I might add).

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.)

Odd list. What about moli.com that had 15 million visitors last month..or multiply.com. This is a cultish list, indeed, not a real lit

marcos said:
Thank god david siminoff was available to tell you that his wife's company is worth $275MM. No conflict of interest there...

Oh, and no chance that company ever gets taken out at a valuation anywhere close to that.

ox said:
possible addition... The Generations Network (ancestry + myfamily etc) is private and has almost $200mm revs and wildly profitable. You're also missing hi5, I think.

Kelsaco said:
How is it that you have Powerset up their and not Hakia? They are both supposed to semantic search engines. Hakia has already launched their site, and is believed to have better technology. Powerset has launched nothing yet and is now stating that they won't even really be a search engine.

This demonstrates very poor analysis. Go back and rework this.

Fish said:
great response, henry (kind words)...I like the list and the logic.......might arrange them differently and might add a few or take a few off (if I knew more) but that is the puzzle...it's great to have the logic and the guts to create the list and then offer it up....let me know if anyone represeting one of these companies writes in and tells you you overstated their value.........

Henry Blodget said:
Right on the money, Fish. Lots of fire and brimstone this a.m., but no one complaining that we were too generous (except to their competitors).

Andrew said:
How did you miss GlobalSpec; at least they have a business model that works.

Interesting list... seems like there are some not-so-high profile players missing, but nonetheless, interesting.

Seems like a great list of companies that aren't exactly "startups" from my eyes... Craigslist is more than 10 years old, Facebook has 40+ million users, ... Then again, this isn't the list of "coolest" startups, so maybe it ain't so bad. ;)

Either way, good reading and thanks for putting it together.

rogen josh said:
Some companies missing here - hi5, Friendster, Wordpress.

shawn molodow said:
henry you are a genius - don't let the naysayers and whiners get you down.

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...




InternetBuzz said:
Great start and I like where it's going. However, I agree with a lot of the comments... quite a few additional startups should be looked at. RME is starting to make a move on paypal.

How did you forget yadda yadda yadda

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.

BEIJINGBOY said:
Great effort Henry and SAI. Obviously this is going to stir up a lot of debate but that's at least half the point right?

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.

Henry Blodget said:
BeijingBoy and everyone else--thanks. This is extremely helpful. We'll look into these names over the next month, and hopefully we'll be able to add some or all of them to the next revision.

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.

insider said:
sorry this exercise has no credibility owing to your bizarre and (literally) unfounded attempts to peg valuations. at best your valuations are regurgitated press releases. at worst they are just totally devoid of substance

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?

Lynne said:
Once all is said and done, I think companies like 1-800-GOLFING or 1-800-CASINOS will emerge as solid businesses ready to challenge anyone.

Just my 2 cents.

Beeknee said:
It's good that someone is taking a punt. However, I tend to agree with many of the posts about omissions. Where are?

1. Cyworld
2. Bebo

Russian are invincible! We the best!

this seems very poorly researched and leaves out several big names mentioned already. i'm not sure what the focus of the article was supposed to be other than to create discussion.

What my comment have removed? What at you there a freedom of speech, you nazis! You are angrily! We will win you also you awake to burn in a hell!

Dennis Denuto said:
And Betfair (number 4) doesn't even have any customers in USA or Japan.

@ Dennis Denuto

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 :-)

interesting but some of the number don't add up.

MyZine.com
Share Videos, Photos & Audios

interesting but some of the number don't add up.

MyZine.com
Share Videos, Photos & Audios

www.wosbee.com ... let's say 20M€ ? :)

ME said:
1. check out www.conduit.com. very fast growing
2. I thought you could do better for "#9" :)

Andrew said:
how can these sites be worth more than the NY Yanks who is valued at 1.3 billion. these valuations are based on very little.

Eric said:
Applaud the effort here and look forward to seeing how it evolves.

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


Yandex - startup? R u kidding?

Is Prosper.com part of the sub prime mess? I heard lots of non-performing loans are out there.

Mildred E. Smith said:
I think you guys have overlooked Zewg.com. Major money making enterprise they have over there. Best in class, best in show.

Sincerely,

Milred E. Smith

Nicole Reynolds said:
Some others that spring to mind....all growing fast. Not necessarily start ups but young companies and founded since 2000.

Joost - raised $45M plus the $20M or the founders put in

eHarmony - 16M users and $113M in funding

Mimeo - over $75M in funding


Very small startup....i know they have raised $100,000. Good site too!

Haha wow you guys are on so much crack.

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.

marc said:
Title: Metacafe Founders Cash Out
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?

Aren't many of these companies a little too old to still be considered startups? Or are you always considered a startup if you are on the web.

Can you please give me more information on www.shopandsave.com

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.

This website definitely qualifies as a startup. It's only be up for a month or so (in this format) AND it has tremendous growth potential. Check it out. www.nonprofitrfpexchange.com. It's mission is to help nonprofits.

Virus Attack !!!

Gernik said:
yandex is the best,but it will be lose its visitors in future...i'm sure

Яндекс ты лучший!

Серж said:
ееееееееееееее Яндекс рулит!!!!!!!!!!!!!!!!!йо чуваки будущее зе нами!!!!yandex RULES!!!

Adam said:
I did not see Affinity Media listed in either section. I know they have raised over $100m from investors such as Goldman Sachs and Oak. I also remember that in the recent past they were doing well over $100 million a year in revenue. If they were not looked at I suggest someone attempt to find more information out about them.

Just my two cents.

- Adam

Яндекс Рулит!

Looks like a great list and interesting reading. You missed off Trulia - the real estate search engine.

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



Certainly a lot of great companies. You did not include Reply.com. We are profitable, have been in business for over 6 years, have over 100 employees and to date we have raised close to $20M. Our VC’s include Scale VP and Outlook. Reply.com is a lead marketplace/exchange with access to over 1M leads/month.

Feel free to contact me for any questions.

Regards,

Payam Zamani
CEO / Reply.com

jenkins said:
Trulia is a joke! What's your revenue? Stop trying to play games with user stats! We want to know how you're really doing? I hear that things aren't going very well.

valley guy said:
you left off Trulia and SimplyHired.

incredible said:
What is the basis of this list? This proves again that Alley Insider = Tech Outsider!!! You guys don't know what you are talking about?!

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