# Confluent — Capital Time Machine Explore Confluent’s documented private funding prices alongside its historical IPO offer, with share-conversion assumptions and sources. Canonical citation: https://capitaltimemachine.com/private/confluent Dataset revision: ctm-research-2026-10-01; evidence register reviewed: 2026-09-19. Each observation retains its own check date. Publisher: CapitalTimeMachine. Methodology: https://capitaltimemachine.com/methodology ## What this supports Preferred converts one-for-one to Class B, with Class B convertible one-for-one to Class A. No extra split, employee secondary purchase or fees are applied. ## Limitations - Historical research and hypothetical arithmetic, not live quotes, investment advice or an offer to invest. - Company valuation changes are not shareholder returns. Financing, dilution, security rights and exit access matter. - IPO offer-price marks are not realized sale proceeds; minimum investments and access are not established. - User-entered prices and valuations are assumptions, not sourced observations. Fee and carry treatment is stated by each method; taxes and distributions are excluded. - Selected surviving companies are not representative of private-market outcomes; investments may lose all value. ## Sourced observations ### CFLT-D — Series D preferred issuance Value: 10.3252 USD; scope: per_share_issuance_price Date: 2021-03-31; precision: day; role: historical_table_snapshot; actual investment date: not established Security: Series D preferred; share basis: as_reported_reviewed_no_additional_split Verification: primary_verified; checked: 2026-09-17 Preferred converts one-for-one to Class B, with Class B convertible one-for-one to Class A. No extra split, employee secondary purchase or fees are applied. The displayed date is the financial reporting snapshot; it is not an investment date. Source: [SEC · Confluent filing — IPO prospectus (Form 424B4)](https://www.sec.gov/Archives/edgar/data/1699838/000119312521199382/d63025d424b4.htm) Source location: Related-party Series D/E financings; preferred-stock conversion note; Description of Capital Stock Citation: https://capitaltimemachine.com/private/confluent#CFLT-D ### CFLT-E — Series E preferred issuance Value: 14.9687 USD; scope: per_share_issuance_price Date: 2021-03-31; precision: day; role: historical_table_snapshot; actual investment date: not established Security: Series E preferred; share basis: as_reported_reviewed_no_additional_split Verification: primary_verified; checked: 2026-09-17 Preferred converts one-for-one to Class B, with Class B convertible one-for-one to Class A. No extra split, employee secondary purchase or fees are applied. The displayed date is the financial reporting snapshot; it is not an investment date. Source: [SEC · Confluent filing — IPO prospectus (Form 424B4)](https://www.sec.gov/Archives/edgar/data/1699838/000119312521199382/d63025d424b4.htm) Source location: Related-party Series D/E financings; preferred-stock conversion note; Description of Capital Stock Citation: https://capitaltimemachine.com/private/confluent#CFLT-E ### CFLT-OFFER — Confluent IPO offer Value: 36 USD; scope: public_offer_price_per_share Date: 2021-06-23; precision: day; role: offering_pricing; actual investment date: not established Security: Common; share basis: undefined Verification: primary_verified; checked: 2026-09-17 IPO offering price is an analytical mark, not a current quote or evidence that a private holder could sell at this price. Source: [SEC · Confluent filing — IPO prospectus (Form 424B4)](https://www.sec.gov/Archives/edgar/data/1699838/000119312521199382/d63025d424b4.htm) Source location: Prospectus cover: offering price and prospectus date Citation: https://capitaltimemachine.com/private/confluent#CFLT-OFFER ## Calculation options { "early_stage_assumptions": null, "ipo_offer_models": [ { "id": "CFLT-D-IPO", "company": "confluent", "start": "CFLT-D", "end": "CFLT-OFFER", "label": "Series D → IPO offer-price mark", "conversion_factor": "1", "split_adjustment": "already_reflected_do_not_apply_again", "reviewed_on": "2026-09-17", "basis_note": "Preferred converts one-for-one to Class B, with Class B convertible one-for-one to Class A. No extra split, employee secondary purchase or fees are applied. Fractional share equivalents only; no sale, fees, taxes, dividends or CAGR.", "source_url": "https://www.sec.gov/Archives/edgar/data/1699838/000119312521199382/d63025d424b4.htm", "source_locators": [ "Related-party Series D/E financings; preferred-stock conversion note; Description of Capital Stock", "Prospectus cover", "Shares Eligible for Future Sale / Underwriting: selling restrictions" ] }, { "id": "CFLT-E-IPO", "company": "confluent", "start": "CFLT-E", "end": "CFLT-OFFER", "label": "Series E → IPO offer-price mark", "conversion_factor": "1", "split_adjustment": "already_reflected_do_not_apply_again", "reviewed_on": "2026-09-17", "basis_note": "Preferred converts one-for-one to Class B, with Class B convertible one-for-one to Class A. No extra split, employee secondary purchase or fees are applied. Fractional share equivalents only; no sale, fees, taxes, dividends or CAGR.", "source_url": "https://www.sec.gov/Archives/edgar/data/1699838/000119312521199382/d63025d424b4.htm", "source_locators": [ "Related-party Series D/E financings; preferred-stock conversion note; Description of Capital Stock", "Prospectus cover", "Shares Eligible for Future Sale / Underwriting: selling restrictions" ] } ], "valuation_comparisons": [], "user_entered_private_prices": false, "entered_public_price_review": { "company": "confluent", "ticker": "CFLT", "issuer_cik": "1699838", "model_ids": [ "CFLT-D-IPO", "CFLT-E-IPO" ], "from_date": "2024-06-10", "through_date": "2026-03-16", "reviewed_on": "2026-09-19", "status": "reviewed_user_price_scenario", "historical_only": true, "limitation": "Historical CFLT prices only. The March 2026 acquisition ended this listed share path; takeover cash and successor instruments are not modeled.", "listed_equivalent_factor": "1", "splits": [], "sources": [ { "url": "https://www.sec.gov/Archives/edgar/data/1699838/000119312521199382/d63025d424b4.htm", "title": "Original IPO share basis", "locator": "Prospectus / offering and capital-stock terms; the existing private-to-IPO model supplies the entry conversion." }, { "url": "https://www.sec.gov/Archives/edgar/data/1699838/000169983826000006/cflt-20251231.htm", "title": "Issuer 10-K · 2026-02-11", "locator": "Common-stock presentation and corporate-action screening. A missing split keyword alone is not evidence of a complete history." }, { "url": "https://www.stocksplithistory.com/?symbol=CFLT", "title": "Supplemental split-history screen", "locator": "Dated post-IPO corporate actions only. Ticker reuse can introduce unrelated pre-IPO events; those are excluded. No market quote was copied." }, { "url": "https://www.sec.gov/Archives/edgar/data/1699838/000110465926029071/tm268826d6_8k.htm", "title": "Corporate event limiting this path", "locator": "Historical CFLT prices only. The March 2026 acquisition ended this listed share path; takeover cash and successor instruments are not modeled." } ], "review_note": "Entry-to-IPO conversion reuses the approved company-specific model. The post-IPO corporate-action screen matches the issuer CIK and excludes reused ticker history predating its IPO. This is a bounded price-only scenario, not a licensed quote or a certified corporate-action feed." }, "public_ipo": null } ## Reuse and corrections Link to the company page and original evidence, retain dates, units and limitations. Third-party source terms remain applicable; no new license to third-party material is granted. https://capitaltimemachine.com/terms Corrections: mailto:capitaltimemachine@gmail.com