Start with the source
Each observation keeps its document link, location, historical date, value type and last source-check date. A funding valuation, a share price and a fund holding are different measures.
OUR RESEARCH STANDARD
Every number needs a trail.
A compelling result should be easy to inspect. Here is what our calculations show, what they leave unknown and how the evidence travels with your research.
Check the share chain
We review the entry series, split treatment and conversion to listed common-share equivalents. Having two prices is not enough to enable a calculation.
Keep the dates honest
A funding month or filing-table snapshot is not an exact purchase date. We do not invent a purchase day to calculate an annualized return.
Preserve the original
Saved research retains the original inputs, method version, observations and assumptions. Later recalculation creates a separate result.
How the historical marks work.
- Company valuation comparison
- A mathematical ratio between selected issuer-announced company valuations, scaled by an illustrative amount. New capital, dilution, entity structures and security rights can differ. This is not an IPO result or a documented investor return; dates are announcement dates.
- Private share → IPO offer mark
- An amount divided by a documented issuance price, adjusted by reviewed conversion factors, then multiplied by the IPO offer price. No allocation or sale at the offer is assumed.
- Private share → public closing mark
- The same reviewed share equivalents carried to a specific sourced public closing price. This is a price-only historical mark, excluding fees, taxes, distributions and investor-specific execution.
What “source-backed” does not establish.
It does not establish that you could have invested, received the preferred terms, sold during a lockup, or received the marked amount in cash. It is not a current valuation feed. For factual observations drawn directly from SEC-hosted public filings, our reuse review cites the SEC’s published EDGAR policy. Selected issuer announcements are used for isolated numerical facts with original explanatory text and attribution, not reproduced articles or licensed API data; the SEC does not endorse our calculations.
We do not join isolated observations into a continuous private-price chart. We do not report maximum drawdown from a few selected closes. Where a conversion or price basis is unresolved, we exclude that calculation.
A selected sample, not the whole market.
These companies were selected for recognizable names and available evidence. They do not represent all private investments. Failed companies and investments without usable records are underrepresented; results cannot establish a typical private-market return. Later funding rounds can lose value even when a company reaches an IPO.
What is in this collection?
IPO Journeys and private profiles use selected historical observations with source links. Automated stock-data requests remain paused. Entered public-price scenarios are available for 40 companies, including NVIDIA. These extend reviewed historical share units using company-specific conversions and subsequent splits. Price dates start June 10, 2024 and end no later than September 19, 2026; HashiCorp, Confluent, Udemy and Allbirds have earlier historical cutoffs. Use an actual price quoted on its selected date, not a retrospectively split-adjusted historical close. Prices are not verified or fetched by CTM. These are price-only marks, excluding dividends, distributions, fees and taxes; fractional units are theoretical and cash-in-lieu is not modeled. OpenAI, Anthropic, Databricks and Stripe also accept an entry price and ending price for comparable private shares or fund units. Both prices, dates and the security description come from the user. We do not infer share prices from funding valuations, verify security comparability, or establish that a purchase or sale is possible. Choose Save research beside a result to keep its inputs, displayed values, source links and assumptions in your private account. Saved user assumptions remain separate from our sourced observations. Anthropic and OpenAI also accept optional hypothetical company valuations; these scale an amount and do not estimate actual shareholder returns. The public collection contains 121 private-to-IPO offer scenarios and 13 historical company valuation comparisons, plus selected filing-sourced post-IPO closes for five companies. The company research calculations do not use a daily stock-price feed. The Crypto tab uses saved Binance Spot quarter-end prices for eight coins. Completed quarters are the last UTC closing observation of March, June, September and December. The latest ticker price is scheduled to refresh daily and shows its UTC timestamp. It is not a streaming quote or a completed quarter. An older observation is labeled “Latest available price” if today’s update is pending. The source markets are quoted in USDT; dollar-equivalent amounts assume 1 USDT equals $1 at both endpoints. Earlier periods outside exchange coverage are unavailable, even where a coin already existed. Crypto calculations require no live historical API request and exclude staking, forks, airdrops, costs, fees and taxes. Twelve additional company profiles contain sourced funding and public-transition histories. Sixteen documented share paths cover Cipher Digital’s closing placements, Cerebras Series A–H, Archer seed and Series A, and Oklo’s three preferred classes. SPAC closings, spin-offs and historical IPOs are labeled separately. Oklo base-share illustrations exclude contingent earnouts. Where a priced security and conversion chain are unavailable, users may enter their own assumptions; undisclosed data is not invented.