May 2026
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 | Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google’s subscription services (YouTube TV and YouTube Music, among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google’s cloud computing platform accounts for roughly 10% of Alphabet’s revenue. The firm’s investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) make up the rest. | $387 | +125% | $4.7T | $4.7T | 11.5x | 25.7x | ||
| Netflix’s relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue. | $87 | -28% | $368B | $370B | 8.2x | 12.2x | ||
| Wireless services account for 75% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 94 million postpaid and 20 million prepaid phone customers via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast that reach about 30 million homes and businesses, including about 20 million served by the Fios fiber-optic network. Verizon closed its acquisition of Frontier Communications in January, adding networks that reach another 15 million locations, including 9 million with fiber. These networks serve about 11 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, using a mix of its own and other networks. | $48 | +10% | $201B | $389B | 2.8x | 7.8x | ||
| Disney operates in three global business segments: entertainment, sports, and experiences. Entertainment and experiences both benefit from the firm’s ownership of iconic franchises and characters. Entertainment includes the ABC broadcast network, several cable television networks, and the Disney+ and Hulu streaming services. Within the segment, Disney also engages in movie and television production and distribution, with content licensed to movie theaters, other content providers, or, increasingly, kept in-house for use on Disney’s own streaming platform and television networks. The sports segment houses the ESPN family of TV networks and streaming services. Experiences contains Disney’s theme parks, cruises, and vacation destinations and also engages in merchandise licensing. | $104 | -8% | $181B | $223B | 2.4x | 11.3x | ||
 | Spotify is the leading global music streaming service provider, with over 750 million monthly active users and 290 million paying subscribers, with the latter constituting the firm’s premium segment. Most of the firm’s revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also offers access to audiobooks and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience. | $513 | -23% | $105B | $96B | 4.7x | 34.2x | ||
| Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 65 million US homes and businesses, or nearly half of the country. The firm provides services to about 47% of the locations in this territory. Comcast acquired NBCUniversal from General Electric in 2011. Following the spinoff of several cable networks, including CNBC, MSNBC, and USA, NBCU now consists of the NBC network, several local NBC affiliates, Bravo, the Peacock streaming platform, Universal Studios, and several theme parks. Finally, Sky, acquired in 2018, is a large television provider in the UK and Italy. | $25 | -27% | $90B | $175B | 1.4x | 3.8x | ||
 | Founded in the late 1990s as an internet portal, NetEase has evolved into China’s second-largest online gaming company. Its early success was anchored by the massively multiplayer online role-playing game Fantasy Westward Journey, which laid the foundation for a durable franchise strategy. Over the past decade, the company has expanded its portfolio with successful titles such as Justice, Identity V, Naraka: Bladepoint, and Eggy Party, all of which continue to maintain sizable and engaged player bases.In addition to its in-house development capabilities, NetEase partners with global IP holders such as Microsoft and Marvel to develop and publish titles based on established franchises, including World of Warcraft, Diablo Immortal, and Marvel Rivals, further strengthening its global presence. | $25 | +2% | $80B | $56B | 3.4x | 10.0x | ||
| Warner Bros. Discovery operates in three segments: streaming, studios, and linear networks. In 2026, it intends to split its networks from streaming and studios to form two separate companies. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks. | $27 | +172% | $68B | $97B | 2.6x | 4.6x | ||
| Baidu is the largest internet search engine in China with over 50% share of the search engine market in 2024 per web analytics firm, Statcounter. The firm generated 70% of core revenue from online marketing services from its search engine in 2024. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving. | $16 | +57% | $45B | $41B | 2.2x | 9.1x | ||
| Roku enables consumers to stream television programming. It has more than 90 million streaming households and provided 145 billion streaming hours in 2025. Roku is the top streaming operating system in the US, reaching more than half of broadband households, according to the company. Roku’s OS is built into streaming devices and televisions that Roku sells and on connected televisions from other manufacturers that license Roku’s name and software. Roku also operates the Roku Channel, a free, ad-supported streaming television platform that offers a mix of on-demand and live television programming. Roku generates revenue primarily from selling devices, licensing, and advertising, and it receives fees from subscription streaming platforms that sell subscriptions through Roku. | $132 | +82% | $19B | $18B | 3.7x | 40.3x | ||
| News Corporation is a diversified media conglomerate with big presence in the US, the UK, and Australia. Key mastheads include The Wall Street Journal, Barron's, New York Post, The Times, The Sun, The Australian, Herald Sun, and The Daily Telegraph. Its 61%-owned REA Group is the dominant property listings platform in Australia. In addition, it owns Harper Collins, one of the largest book publishers in the world, and has a sizable US digital property advertising business, Move. The 65% interest in Foxtel, the Australian pay-TV and streaming provider, was sold in April 2025. The sale to global sports streaming platform, DAZN, was struck at more than 7 times Foxtel's EBITDA. | $28 | -6% | $15B | $16B | 1.9x | 11.2x | ||
 | Kakao Corp is a technology and platform company engaged in digital services, content, mobility, and financial technology businesses. The company operates through seven reportable segments. The Kakao segment provides advertising and platform-based service offerings. The Kakao Games segment covers game development, publishing, and related services. The Kakao Entertainment segment focuses on entertainment planning and content production, and distribution. Kakao Mobility offers database-based information provision services, while Kakao Pay provides mobile platform-based financial services. Kakao Piccoma operates a platform for webtoon and web-novel supply, and the SM Entertainment segment engages in entertainment planning and content production. | $27 | -6% | $12B | $7B | 1.3x | 6.7x | ||
| SiriusXM operates almost exclusively in the US through its SiriusXM and Pandora audio services. SiriusXM is primarily a satellite radio service that offers nationwide coverage and mostly ad-free listening, with proprietary channels and exclusive content. It makes agreements with automakers to install its radios in vehicles and give trial services to vehicle buyers, which have traditionally fed its subscriber base. The company provides the service via a fleet of geostationary satellites it owns and operates, and now offers a streaming SiriusXM option. Pandora, which accounts for a much smaller portion of revenue and profit, offers a subscription and ad-supported streaming music service that competes with industry giants such as Spotify, Apple Music, and YouTube Music. | $30 | +37% | $10B | $20B | 2.3x | 7.4x | ||
| Kunlun Tech Co Ltd engages in the development and distribution of online games in China. It also operates software application stores. The company develops and distributes web games, social games, mobile games, and software applications. Geographically, the company distributes its products in domestic and overseas markets. | $7 | +39% | $8B | $8B | 6.8x | (41.7x) | ||
| Match Group Inc is a provider of online dating products. The company's portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and more, each built to increase its user's likelihood of connecting with others. The company has four operating segments: Tinder, Hinge, Evergreen and Emerging, and Match Group Asia. The company generates the majority of its revenue from the Tinder segment. | $36 | +21% | $8B | $11B | 3.3x | 9.2x | ||
| Bilibili is a Chinese online entertainment platform best known for its YouTube-like video-sharing site. Founded in 2009, it first focused on long-form content centered around anime, comics, and gaming, catering primarily to Gen Z users. Over time, the platform has broadened its content offerings to include a wider range of interests, successfully attracting a more diverse audience beyond the Gen Z demographic. | $17 | -8% | $7B | $5B | 1.1x | 8.5x | ||
| Dropbox provides cloud storage and content collaboration tools, focusing on individuals and small to midsize businesses. Founded in 2007, Dropbox was a pioneer in the file sync and share market. In recent years, the firm has been emphasizing its Dash product, which facilitates AI-powered universal search across unstructured cloud data. | $26 | -10% | $6B | $9B | 3.5x | 7.4x | ||
| Oriental Pearl Group Co Ltd operates a media integration and distribution platform in China. The various business units of the company comprise Channel Products Operation, Video Shopping, and E-Commerce, Culture and Entertainment Themed Tourism, Mobile Transmissions and Video Games among others. | $2 | +44% | $5B | $4B | 3.6x | 12.6x | ||
| Duolingo Inc is a technology company that develops a mobile learning platform to learn languages and is the top-grossing app in the Education category on both Google Play and the Apple App Store. Its products are powered by sophisticated data analytics and artificial intelligence and delivered with class art, animation, and design to make it easier for learners to stay motivated master new material, and achieve their learning goals. Its solutions include the Duolingo Language Learning App, Super Duolingo, Duolingo English Test: AI-Driven Language Assessment, Duolingo For Schools, Duolingo ABC, and Duolingo Math. It has four predominant sources of revenue; time-based subscriptions, in-app advertising placement by third parties, and the Duolingo English Test, and In-App Purchases. | $108 | -79% | $5B | $4B | 3.7x | 12.6x | ||
| Stride Inc is an American online educational company. It offers alternative programs to traditional on-campus schooling. It also operates state-funded virtual charter schools around the United States. The educational programs for K-12 students are usually monitored by parents and provide virtual classroom environments where teachers meet with students online, by phone, or in-person. The company's contractual agreements with various school districts to offer its curriculum programs provide a majority of the company's revenue. The company lines of business are Managed Public School Programs, Institutional and Private Pay Schools and Other. | $91 | -40% | $4B | $4B | 1.5x | 6.3x | ||
| Box is a cloud-based content management platform that provides storage and workflow collaboration services for enterprise customers. The firm was founded in 2005 as a file, sync, and share provider. Over time, it built out and acquired workflow and security tools to evolve the pure-play FSS business into a content management business. Most recently, Box has been pursuing an AI-powered, intelligent content management strategy that can allow for metadata extraction and workflow automation. | $25 | -35% | $3B | $4B | 3.4x | 10.9x | ||
| Life360 is the world’s largest family focused social network, with nearly 100 million monthly active users. Security-conscious families use the Life360 app to track each other’s whereabouts and to track the location of their pets and personal belongings. Life360 also offers a suite of additional security features, such as driver safety monitoring, roadside assistance, and emergency dispatching. In the US, the Life360 app regularly ranks in the top 10 most popular social-networking apps and in the top 25 across all apps in terms of daily active users. | $14 | -41% | $3B | $3B | 6.6x | 34.7x | ||
| IAC Inc is comprised of businesses, including Angi Inc, Dotdash Meredith, and Care.com, among many others, ranging from early-stage to established businesses. Its Dotdash Meredith segment consists of its Digital and Print businesses. Care.com segment is an online destination for families to connect with caregivers for their children, aging parents, pets, and homes, and for caregivers to connect with families seeking care services. Search segment consists of a collection of websites providing general search services and information, and a Desktop business, which includes business-to-business partnership operations. | $44 | +23% | $3B | $4B | 1.5x | 13.2x | ||
| Cloud Music is the second-largest online music service provider in China, founded in 2013 by NetEase. NetEase currently holds approximately 58% of Cloud Music’s equity stake and controls 90% of its voting power. The platform’s business model is similar to its main competitor, Tencent Music, as both offer music streaming services along with social entertainment features like live streaming to engage users and drive additional revenue. | Music+1 | $16 | -42% | $3B | $1B | 1.2x | 4.5x | |
| China Literature Ltd is an investment holding company. The company along with its subsidiaries provides online reading services, copyright commercialization, writer cultivation and brokerage, and operation of text work reading. It generates its revenue from Online reading through self-owned platform products. it operates in two segments: Online business and Intellectual property operations and others. The Online business segment that derives the majority of revenue comprises online paid reading, online advertising, and game publishing. The Intellectual property operations and other segment include licensing and distribution of film and television properties, copyrights licensing, sales of adaptation rights and scripts, sales of physical books, and in-house online games operations. | $3 | -12% | $3B | $2B | 1.8x | 92.8x | ||
 | Kadokawa Corp is a Japan based publisher and digital content platform provider. It is involved in various businesses such as publishing, film, publishing rights, digital contents, planning, development and operation of network entertainment service, and contents and operation of video- sharing website. | $20 | -10% | $3B | $2B | 1.3x | 14.4x | ||
| East Buy Holding Ltd is a live-streaming platform that focuses on selecting premium products for customers. The company operates in three reportable segments: Private Label Products and Livestreaming E-Commerce, College Education, and Institutional Customers. The majority of its revenue comes from private label products and the direct e-commerce segment, i.e., direct online commerce with private label products sold to individual customers and providing commission services. | $3 | +66% | $3B | $2B | 3.3x | 128.4x | ||
| Meitu Inc is an investment holding company. It is engaged in the provision of online advertising and other Internet value-added services by offering a portfolio of photo and community apps that enjoys popularity in the PRC and overseas and the smart hardware business involving the production of MeituEve: a commercial artificial intelligence skin analyser, MeituKey: a contact skin analyser, MeituSpa: an artificial intelligence cleansing brush and Meitu Genius: an artificial intelligence smart mirror. | $1 | -28% | $3B | $2B | 3.9x | 15.3x | ||
 | Cyfrowy Polsat SA operates in Poland as a provider of a paid digital satellite platform under the name of ‘Polsat Box’ and paid digital terrestrial television as well as the telecommunication services provider. The group operates in the following four segments that includes B2C and B2B services segment which relate to the provision of services to the general public, including digital television transmission signal, mobile services, internet access services, mobile TV services, online TV services, and set-top box production, Media segment consists mainly of production, acquisition, and broadcasting of information and entertainment programs, and TV series. Real Estate segment consists construction, sale, rental, and management of own or leased real estate and Green energy segment. | $4 | -1% | $2B | $6B | 1.5x | 6.0x | ||
| Grindr Inc is a social networking app for gay, bi, trans, and queer people. It is a social network that brings together gay and bisexual men who want to meet other men close to them in a completely discreet and anonymous way, without having to give any personal information or having to fill out a profile with confidential information in order to register. | $13 | -48% | $2B | $3B | 6.0x | 13.5x | ||
| Rumble Inc is a free-to-use video-sharing platform where users can watch, share, like, comment, and upload their own videos. Users can subscribe to channels to stay in touch with recent creator content and access video-on-demand uploaded, and live content streamed, by creators. Geographically, it generates a majority of its revenue from the United States. | $10 | +8% | $2B | $2B | 18.8x | (25.5x) | ||
 | Alef Education Holding Plc is an EdTech company that designs impactful learning experiences for students customized to different curriculums. The company operates in three segments: The Education solution segment, which provides customers the right of access to the Group’s learning platform. The Support and services segment includes ancillary services such as IT infrastructure setup and maintenance support and services, and the Financial investments segment pertains to the maintenance of the investment portfolio for returns based on market dynamics. The majority of its revenue is generated from the Education solution segment. | $0 | -2% | $2B | $2B | 8.1x | 11.3x | ||
| Wondershare Technology Group Co Ltd, formerly Wondershare Technology Co Ltd is a China-based company engages in the manufacture and sale of a software application. It offers multimedia, utility, office, mobile, and other software products, as well as featured products. The company's products can be applied to personal computers, tablet PCs, smartphones and other application terminals. | $9 | +6% | $2B | $2B | 7.6x | (358.7x) | ||
| Modern Times Group MTG AB invests in esports, mobile games and other digital entertainment. The group’s companies offer a wide range of games available to audiences all over the world. MTG’s portfolio of IP spans across both the casual and mid-core segments of the gaming market. A vast majority of games are available to consumers on a free-to-play basis, and the group generates revenues from in-app purchases and in-app advertising. The Group operates in Europe, Singapore, USA, India and New Zealand. | $14 | +24% | $2B | $2B | 1.6x | 7.1x | ||
| IReader Technology Co Ltd operates as a mobile software development company. It develops, and markets mobile phone reading application known as iReader e-book reader, a software for mobile reading APP. The app is developed for both android and iPhone platform. Geographically the activities are carried out through China. | $4 | +39% | $2B | $1B | 3.0x | (115.6x) | ||
| Opera Ltd is a world-wide internet brand with a large, engaged, and growing base. It offers users products and services that include a variety of PC and mobile browsers, Opera Gaming portals and development tools, Opera News content recommendation products, and a number of e-commerce products and services. Its browser's features include tabbed browsing, data savings, PC/mobile sync, and numerous features focused on privacy and security, including ad blocking and a built-in VPN. Its browser products include Opera Mini, Opera Browser for Android and iOS, Opera for Computers, Opera GX and Opera GX Mobile, separate browsers tailored for gamers. Geographically, the company generates maximum revenue from the United States, followed by Singapore, Nigeria, Russia, and other locations. | $18 | -1% | $2B | $1B | 2.4x | 10.3x | ||
| Webtoon Entertainment Inc is a storytelling platform where a vibrant community of creators and users discover, create and share new content. It has pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication connecting creators with active users around the world. | $12 | +36% | $2B | $1B | 0.7x | 53.0x | ||
| Coursera Inc is an online learning platform that connects learners, educators, and institutions with the goal of providing educational content that is affordable, accessible, and relevant. It combines content, data, and technology into a single, unified platform that is customizable and extensible to both individual learners and institutions. The company operates through two reporting segments: Consumer and Enterprise. The majority of revenue is generated from the Consumer segment. The consumer segment targets individual learners seeking to obtain hands-on learning, gain valuable job skills, receive professional-level certifications, and otherwise increase their knowledge to start or advance their careers. | $5 | -40% | $2B | $779M | 1.0x | 12.3x | ||
 | PT MNC Digital Entertainment Tbk is a content provider in Indonesia, has its core business in producing, developing, and distributing content and intellectual properties across all existing media platforms. The company's main business is supported by its various business units engaged in media and entertainment activities, such as drama production houses, infotainment, reality shows, game shows, animation, films, original content, music labels, advertising agencies, content & IP licensing, talent management, social media, including multi-channel networks (MCN), OTT superapps, and online portals. The company's operating segments include Digital, Content and IP, Talent, and Subscription. The company generates maximum revenue from the Content and IP, Talent segment. | $0 | -25% | $1B | $1B | 6.5x | 18.9x | ||
| Youdao Inc develops and markets software applications. It engages in developing technologies to provide learning content, applications, and solutions. The firm operates in three segments: Learning services, Smart devices, and Online marketing services. The majority of its revenue comes from the Learning services segment, which generates revenues from online courses, mainly including Youdao Premium Courses, NetEase Cloud Classroom, and China University MOOC. The learning products segment includes sales of smart devices such as the Youdao Dictionary Pen and the Youdao Pocket Translator. Geographically, all of its revenue is generated from the People's Republic of China. | $12 | +28% | $1B | $2B | 1.9x | 41.6x | ||
| Strive Inc is engaged in providing investment advisory, wealth management, and consulting services through its subsidiary. Its objectives is to (i) accumulate Bitcoin; (ii) increase Bitcoin-per-share; and (iii) outperform Bitcoin over the long run by deploying both beta Bitcoin treasury accumulation strategies and alpha investment strategies with the goal of beating Bitcoin’s investment performance as the hurdle rate. | $18 | -- | $1B | $2B | 432.0x | (70.2x) | ||
 | ProSiebenSat 1 Media SE is a German mass media and digital company that operates in three segments: Entertainment, which derives maximum revenue, Dating & Video, and Commerce & Ventures. The Entertainment segment represents the core of the company's business with a focus on the Seven.One Entertainment Group, which provides multi-platform digital media to audiences in Germany, Austria, and Switzerland. The Dating & video segment offers a range of online matchmaking services and other social entertainment. The Commerce & Ventures segment supports young companies by offering media-for-revenue or media-for-equity partnerships through its TV reach. Geographically, it derives key revenue from Germany, Austria and Switzerland (DACH), followed by the United States of America and other regions. | $5 | -43% | $1B | $3B | 0.7x | 7.7x | ||
| Iqiyi is a leading streaming video-on-demand company in China that generates revenue mostly through a subscription basis. The platform also provides user-generated content to nonpaying users, monetized through ads. The company self-produces much of the subscription content and also generates revenue through content distribution, gaming, and IP licensing. Iqiyi competes directly with Tencent Video, Alibaba’s Youku, ByteDance’s MangoTV, and Bilibili. The company is 45% and 5% owned by Baidu and Xiaomi, respectively. | $1 | -33% | $1B | $3B | 0.6x | 1.2x | ||
| Yalla Group Ltd is a MENA-based online social networking and gaming company. It operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games popular in MENA, with in-game voice chat and localized majlis functions. The Group has one operating segment, which is the social networking and entertainment platform. | $6 | -12% | $922M | $119M | 0.3x | 0.9x | ||
| Hello Group Inc provides mobile-based social networking services. It enables users to establish and expand social relationships based on location and interests. Its platform includes the Momo mobile application and a variety of related features, functionalities, tools, and services that it provides to users, customers, and platform partners. The company derives its revenue from live video services, value-added services, mobile marketing services, mobile games, and other services. It operates in three segments: Momo's service lines, Tantan's service lines, and QOOL's service lines, out of which Momo's service lines segment derives the majority of revenue. | $6 | 0% | $892M | ($348M) | (0.2x) | (1.3x) | ||
| Viaplay Group AB is a Sweden-based company that offers television channels and radio stations, broadcasting and production services. The company generates revenue from Viaplay, Linear Subscription & others, and Advertising. The company's operating segment includes Core operations and Non-core operations. The Core operations include the Group’s operations related to the Viaplay streaming service available in all Nordic countries and the Netherlands, pay-TV channels in all Nordic countries except Iceland, commercial free-TV channels in Sweden, Denmark and Norway; and commercial radio networks and audio streaming services in Sweden and Norway. The non-core includes the international markets the Group is exiting, ie. Poland, the UK and Baltics. | $0 | +185% | $849M | $1B | 0.8x | (38.2x) | ||
 | Saregama India Ltd is a holding company, which engages in the production and distribution of music, television programs, and movies. It operates through the following segments: Music, Films/TV Serials, and Publication. The Music segment deals with the business of manufacturing and sale of Music storage devices viz. Carvaan, Music Card, etc, and dealing with related music rights. The Films/TV Serials and Event segment engaged in the production and sale/telecast/broadcast of films/TV Serials, pre-recorded programs, organizing live musical events, and dealing in film rights. The Publication segment publishes the weekly current affairs magazine ‘OPEN’ through its publication business. The firm derives a majority of its revenue from the Music segment. | $4 | -26% | $834M | $807M | 7.9x | 20.9x | ||
| Storytel AB operates in the book and publishing sector. The Storytel organization comprises two divisions: Streaming and Publishing. Within the Streaming division, the company provides a subscription service for audiobooks and e-books under the Storytel and Mofibo brands, currently in Sweden, Denmark, Finland, Netherlands, USA, and other countries. The Publishing division comprises Norstedts, Massolit, Kontentan, Telegram, the Danish publisher People's Press (adults), Raben and Sjogren and B. Wahlstroms (children and young adults), as well as Norstedts Kartor. | $11 | +0% | $832M | $821M | 1.8x | 9.7x | ||
| Udemy Inc operates a marketplace platform at the center of a vibrant knowledge network. The company operates under two operating and reportable segments Enterprise segment and Consumer segment, out of which the Enterprise segment derives the maximum revenue. Geographically, the company derives maximum revenue from North America, and also has its presence in Europe, Middle East, Africa; Asia Pacific; and Latin America. The company leverages data, technology, and insights for effective learning experiences. It helps individuals and organizations to possess effective skill acquisition and development with flexibility. | $5 | -37% | $677M | $329M | - | - | ||
| Cover Corp operates as a platformer for two-dimensional entertainment. It is engaged in developing multifaceted businesses to accelerate 2D entertainment such as distribution system development, VTuber office management, and content development. | $10 | -25% | $645M | $544M | 2.0x | 9.7x | ||
| Huya, officially became independent in 2016 and headquartered in Guangzhou, operates live streaming platform focused on games, esports, and interactive entertainment, and also provides game-related services such as distribution and in-game item sales. Its main livestreaming platforms include Huya Live in China and Nimo TV outside of China. As of 2024, Huya was a subsidiary of Tencent, which owned 67% of its equity stake and held 95% of the voting power. | $3 | -34% | $577M | $105M | 0.1x | (13.1x) | ||
| Wirtualna Polska Holding SA is a holding company based in Poland. It owns and runs internet portals. Its core operations comprise the sale of advertising services on the Internet and operating Internet portals such as . o2, Pudelek, Money.pl, domodi.pl, wakacje.pl, nocowanie.pl, Extradom.pl, totalmoney.pl as well as providing electronic services. Its segment include: Advertising and Subscriptions, Tourism and Consumer finance. | $16 | -31% | $479M | $882M | 1.4x | 6.2x | ||
| Truecaller AB is a platform for verifying contacts and blocking unwanted communication. The company enables safe and relevant conversations between people and makes it efficient for businesses to connect with consumers. | $1 | -80% | $445M | $352M | 1.7x | 5.0x | ||
 | Bemobi Mobile Tech SA, formerly Bemobi Tech SA is a mobile media and entertainment company. It provides OTT media subscription services and distribution platforms. | $5 | +38% | $431M | $371M | 1.1x | 6.9x | ||
| Jiangsu Chuanzhiboke Education Technology Co Ltd provides online training courses. | $1 | +20% | $426M | $376M | 6.7x | (52.9x) | ||
| Gaotu Techedu Inc is a technology-driven education company that provides online live courses in a large-class setting backed by its proprietary technology infrastructure. The company offers courses in large-class format, which amplifies the benefits of online education and allows it to rapidly expand its student base. It operates solely in the PRC and all assets are located in the PRC. The learning services that the company offers include Traditional Learning Services, Non-Academic Tutoring Services, and College Student and Adult Education Services. It derives maximum revenue from Learning Services and also from Educational content & digitalized learning products. | $2 | -54% | $420M | $19M | 0.0x | (0.4x) | ||
| Rey Holdings Corp is a holding company. The company through its subsidiaries owns and operates supermarket chain including Rey supermarket chains, Romero Supermarkets, Supermarkets Mr. Price, Metro Plus and Metro Express. | $8 | -- | $417M | $636M | 1.0x | 13.4x | ||
| Bumble Inc is engaged in offering online dating services. The platform enables people to connect and build healthy and equitable relationships on their own terms. The company operates two apps, Bumble and Badoo, where users come every month to discover new people and connect. The company Operates in USA and also Internationally such as United Kingdom, Czech Republic, and others with maximum of revenue from Other Countries. | $3 | -44% | $412M | $763M | 0.8x | 2.4x | ||
| Dear U Co Ltd is a software development company. Its softwares include Lysn, Bubble and Everysing. | $17 | -54% | $404M | $294M | 5.1x | 12.7x | ||
 | VNG Corp offers variety of products and services, including Online games, Communications and Media, Fintech, Cloud services, Zalo AI, and TrueID. | $12 | -7% | $363M | $236M | 0.6x | 9.4x | ||
| Soop Co Ltd is engaged in offering Internet-based services around the social media platform AfreecaTV. It offers digital media storage, streaming, downloading, video-on-demand, and advertising services. Through AfreecaTV, it is not only providing fun and emotion but also a new entertainment culture. Anyone from anywhere can easily live stream in real-time without the use of any special equipment aside from PC and mobile devices. | $34 | -40% | $362M | $9M | 0.0x | 0.1x | ||
| Xunlei Ltd is a cloud-based acceleration technology company in China. The company operates a powerful internet platform in China based on cloud computing to provide users with quick and easy access to digital media content through its products and services, Xunlei Accelerator, and cloud acceleration subscription services. It is increasingly extending into mobile devices in part through potentially pre-installed acceleration products in mobile phones Xunlei has developed various value-added services to meet a fuller spectrum of its users' digital media content access and consumption needs. | $6 | -1% | $353M | $125M | 0.3x | 0.1x | ||
| FuboTV Inc is a sports-first, live TV streaming company offering subscribers access to tens of thousands of live sporting events annually as well as news and entertainment content. Its platform, FuboTV, allows customers to access content through streaming devices and on SmartTVs, mobile phones, tablets, and computers. It offers subscribers a live TV streaming service with the option to purchase incremental features available for purchase that include additional content or enhanced functionality suited to their preferences. The company has one operating segment, the streaming business. Geographically, the company generates a majority of its revenue from the United States and also has a presence in other markets. | $10 | +169% | $290M | $460M | 0.3x | (4.0x) | ||
| Inforich Inc is engaged in the operation of ChargeSPOT, a mobile battery sharing service sales and operation of signage advertising associated with ChargeSPOT. | $28 | -- | $285M | $271M | 2.9x | 9.9x | ||
| Kurashiru Inc operates in digital media and sales promotion sector. The company focuses on Japan's top recipe video platform Kurashiru, and the shopping support app, Kurashiru Rewards. The company partners with food, beverage, retail, and consumer goods brands to create promotional campaigns, branded advertising, and purchase-based incentives, using user shopping and behavioral data to deliver targeted marketing and enhance engagement. | $7 | -35% | $280M | $207M | 2.5x | 11.5x | ||
| MegaStudyEdu Co Ltd is a Korean company that operates in the education sector. The company operates online education institute, provides educational information and consulting for entrance examination, and offline school direct business. | $27 | -26% | $276M | $237M | 0.4x | 1.7x | ||
| Security First International Holdings Inc is a dynamic technology incubator that concentrates on developing and acquiring technologies aimed at enriching and enhancing people's quality of life. | $0 | -9% | $273M | $273M | - | - | ||
| Inkeverse Group Ltd is engaged in operating the live streaming platform and provision of advertising services in the People's Republic of China. The group business activities are mainly in the live streaming business and generate revenue from the same. It engages in the provision of value-added telecommunications services, internet cultural services, online audio and video program services, and talent agency services. Geographically, it derives majority of its revenue from China. | $0 | -21% | $262M | ($140M) | (0.2x) | (1.8x) | ||
| City Pulse Multiventures Ltd formerly, City Pulse Multiplex Ltd is engaged in the business of operating and managing multiplexes. The business portfolio is comprised of operating cinema halls, serving food and beverages, film distribution, and allied services. The company operates a chain of cinemas spread across the state of Gujarat under the brand name WOW Cine Pulse. It has also launched an OTT Platform named WOWPLEX. | $24 | +77% | $256M | $256M | 894.8x | 1144.1x | ||
 | Southern Cross Media broadcasts radio content across Australia and generates revenue and earnings from sales of airtime to advertisers. In metropolitan areas, it runs two radio networks (Hit and Triple M). In regional areas, the company runs a portfolio of radio stations. It is also operating digital audio, which has a rapidly growing audience and turned profitable from fiscal 2025. Southern Cross merged with Seven West Media in January 2026 and now owns Seven's TV and newspaper businesses. | $0 | -7% | $215M | $669M | 2.2x | 14.5x | ||
 | WildBrain Ltd is a Canadian media company specializing in children’s entertainment, known for producing, distributing, and licensing popular content. The company operates production studios, a multi-channel YouTube network, and a brand licensing agency (WildBrain CPLG). WildBrain’s content reaches audiences in various countries across TV, digital platforms, and consumer products. Its business spans content creation, audience engagement, and franchise management with offices in Canada and internationally. It has three reportable segments: 1) Content and Licensing; 2) Global Licensing, and 3) Canadian Television Broadcasting. The company generates the majority of its revenue from the management of copyrights, licensing, and brands for third parties. | $1 | -35% | $211M | $606M | - | - | ||
 | Sunfun Info Co Ltd is a Taiwan-based company engaged in the internet community business. It operates online dating and social networking services and other online platform services. | $1 | -24% | $209M | $45M | 0.5x | 2.7x | ||
| IBJ Inc operates marriage consultation business in Japan. | $5 | +7% | $197M | $217M | 1.7x | 8.3x | ||
| Fenbi Ltd operates as a non-formal vocational education and training (VET) service provider in China. The company providing a comprehensive suite of recruitment and qualification examination tutoring courses for adult students pursuing careers in government-sponsored institutions and several professions and industries. The company helps college graduates excel in the competitive selection process administered by governmental institutions and helps professionals obtain the relevant qualifications. Its segments are Tutoring services and Sales of books. The company generates the majority of its revenue from Tutoring services, which are classroom-based platforms teaching to students who physically attend the lecture centers or through an online platform. | $0 | -69% | $189M | $18M | 0.0x | 0.4x | ||
| Wowow Inc is a broadcasting station operator based in Japan. The company operates its business through two segments namely Broadcast segment and Telemarketing segment through which it provides services through cable TV, communication satellite broadcasting and Internet Protocol television, based on producing and procuring programs and conducting TV broadcasting at a fee charged by broadcasting satellite. It also offers free program distribution service for TV members only and provides digital marketing support on the web, e-mail, mail order, and travel, event planning, and operation. | $6 | +0% | $181M | ($5M) | (0.0x) | (0.2x) | ||
| Keep Inc is a growing and result-oriented platform that provides users with a comprehensive fitness solution to help them achieve their fitness goals. It offers extensive and professional fitness content with AI-assisted personalized curriculums, encompassing interactive live-streaming classes and recorded fitness courses, that dynamically adjust course content and workout intensity based on users’ athletic levels, fitness goals, daily workout patterns, and diet. The company's operating segment includes Self-branded fitness products, Online membership and paid content, and Advertising and others. The company generates the majority of its revenue from Self-branded fitness products. | $0 | -48% | $166M | $43M | 0.2x | (6.7x) | ||
| CuriosityStream Inc is a media and entertainment company. It offers premium video programming across the principal categories of factual entertainment, including science, history, society, nature, lifestyle, and technology. Its mission is to provide premium real entertainment that informs, enchants, and inspires. Its product and services are Direct to Consumer Business, Partner Direct Business, Bundled Distribution, Content Licensing, Enterprise Subscriptions and Others. The majority of the revenue comes from the Direct to direct-to-consumer business. | $3 | -60% | $163M | $147M | 2.0x | 17.9x | ||
| Chegg Inc is an American educational services company. The Chegg platform provides products and services to support learners with their academic course materials, as well as their career and personal skills development. The company's service and product offerings fall into two categories: Subscription Services, which encompasses Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu offerings that can be accessed internationally through the company's websites and on mobile devices, and Skills and Other, which encompasses skills, advertising services, print textbooks, and eTextbooks offerings. | $1 | +40% | $160M | $146M | 0.4x | 2.1x | ||
 | Deezer SA is an independent music streaming platform providing access to lossless HiFi audio, new recommendation technology and industry-defining features. The company brings artists and fans together on a scalable and platform, to unlock the potential of music through technology. The company is based in France, Germany, the UK, Brazil and the US. | $1 | -14% | $160M | $116M | 0.2x | 5.7x | ||
| 51 Talk Online Education Group is an online education platform in China, with core expertise in English education. The company's mission is to make quality education accessible and affordable. It's online and mobile education platforms enable students across China to take live interactive English lessons with overseas foreign teachers, on demand. The Group operates in seven principal geographical area: China, Hong Kong, Philippines, Singapore, Malaysia, Thailand and Saudi Arabia. | $26 | +33% | $159M | $123M | 1.3x | (8.8x) | ||
| Media Matrix Worldwide Ltd is a B2B focused next-generation technology and services provider, specializing in Value Added Services (VAS) across the mobile and digital ecosystem. Beyond its core VAS offerings, MMWL is also engaged in the distribution of wide range of inventive products in mobility, audio, consumer electronics and IT segment across India through one of its subsidiaries. The group is mainly engaged in the business of digital media content, dealing in related activities in media and entertainment industry and Electronic Items trading and does not have more than one reportable business segment. | $0 | -3% | $156M | $167M | 1.3x | 63.9x | ||
| DouYu International Holdings Ltd is a game-centric live streaming platform in China and a pioneer in the eSports value chain. The company operates its platform on both PC and mobile apps, through which users can enjoy immersive and interactive games and entertainment live streaming. It generates revenues through live streaming and advertisement. | $5 | -24% | $151M | ($181M) | (0.3x) | (28.9x) | ||
| Be Friends Holding Ltd is engaged in the provision of new media services, application solutions, sales of self-developed products, and system maintenance services, for the all-media industry in the People’s Republic of China (the PRC). The Group has operations mainly in the PRC. The company's segments include New Media Services and Television Broadcasting Business. The company derives the majority of its revenue from the New Media Services segment. | $0 | -11% | $150M | $114M | 0.5x | 4.7x | ||
| I-Scream Media Co Ltd is an education company with educational content and different content production capabilities. The company's business includes the edutech platform 'Ice Cream S' utilized by elementary school teachers with differentiated and diverse contents, 'Ice Cream Remote Education Training Center', a training institute for teachers to enhance their teaching expertise, 'Ice Cream Mall', which helps teachers conveniently prepare classes and operate classes by the Korean environment, and 'Ice Cream Textbook', an elementary school textbook that combines books and digital contents. | $12 | +8% | $147M | $82M | 0.6x | 1.8x | ||
| Polaris Office Corp is a South Korean company operating in the software application industry. The company develops software like POLARIS OFFICE, POLARIS meeting, POLARIS print, and POLARIS scan. | $3 | -24% | $140M | $53M | 0.2x | 3.0x | ||
| Cheetah Mobile Inc along with its subsidiaries provides comprehensive products and services on PCs and mobile devices. It generates revenue from utility-related business, including advertising services and premium membership services. It also provides multi-cloud management platform and overseas advertising agency service. The company operates in two segments: Internet business, and AI and others. The firm's majority of the revenue is derived from the internet business segment that provides mobile advertising services to advertising customers, as well as selling advertisements and referring user traffic on its mobile and PC platforms. Geographically, it derives the majority of its revenue from the PRC and the rest from Hong Kong, Japan, and the rest of the world. | $4 | -2% | $139M | ($82M) | (0.5x) | (59.6x) | ||
| PodcastOne Inc is a podcast platform and publisher that makes its content available to audiences via all podcasting distribution platforms, including its website, its PodcastOne app, Apple Podcasts, Spotify, Amazon Music, and more. | $5 | +153% | $138M | $135M | 2.6x | (269.0x) | ||
| Dozn Inc focuses on digital banking solutions, cross-border financial management solutions, and data solutions. The company's offerings include digital corporate banking, virtual accounts, cross-border cash management, foreign exchange transfers, loan comparison services, electronic tax invoicing, payment processing, identity verification, corporate messaging, and account verification services. | $2 | +11% | $131M | $28M | 0.7x | 2.5x | ||
| Huanxi Media Group Ltd is a media company in China focused on the investment and production of films, drama series, and the operation of a subscription-based online video platform. The company is an investment holding and film investment company. Its subsidiaries are principally engaged in media and entertainment-related businesses. Its one reportable segment is the investment in film and TV programme rights. The current operations of the company are located in the PRC and Hong Kong. | $0 | -47% | $123M | $113M | 2.6x | (8.8x) | ||
| UNITED Inc is a Japan-based company, engages in advertising technology and smartphone applications business. It offers various smartphone applications, including CocoPPa, CocoPPa Play, CocoPPa Launcher, CHEERZ, and Crash Fever; and Kanahei Apps. | $3 | -- | $116M | $23M | 0.3x | 1.3x | ||
| Reworld Media publishes internet sites for the general public dedicated to sustainable development. The company also develops and sells content and animations for web portals and implements sensitization means and tools for companies and local administrations. | $2 | +5% | $112M | $206M | 0.3x | 3.2x | ||
 | Meb Corp PCL is engaged in the distribution and servicing of e-books, as well as providing consultation on the development of e-book systems. The company also distributes electronic reader devices, conducts computer system inspections, offers consulting and advice on IT-related issues, and provides knowledge on information technology security. The company operates in a single segment: electronic literature services, and is managed and operates in Thailand. | $0 | -39% | $108M | $58M | 0.8x | 3.5x | ||
| Nerdy Inc provides a platform for live online learning, with a mission to transform the way people learn through technology. The company's proprietary platform leverages technology, including AI, to connect learners with instructors across a wide range of subjects and formats, including subscription-based learning, one-on-one instruction, small group tutoring, large-format classes, and assessments. Its flagship business operates under the Varsity Tutors brand. The company's offerings are available directly to students and consumers, as well as through schools and other institutions. | $1 | -51% | $105M | $80M | 0.4x | (4.4x) | ||
| LiveOne Inc, formerly LiveXLive Media Inc is a premium internet network devoted to live music and music-related video content. The company has been building an online destination for music fans to enjoy live performances from music venues and music festivals around the world, such as Rock in Rio, Outside Lands Music and Arts Festival, and Hangout Music Festival, as well as original content, artist exclusives, and industry interviews. The Company operates mainly through three segments, PodcastOne, Slacker, and Media Group, with a majority of its revenue derived from the Slacker segment. | Music+1 | $7 | -7% | $93M | $108M | 0.9x | 12.1x | |
| Matrimony.com Ltd is an India-based company that engages in the online matchmaking business. The company provides matchmaking and marriage-related services through websites, mobile sites, and mobile apps. Its flagship marriage services include BharatMatrimony, EliteMatrimony, and CommunityMatrimony. Its operating segment includes Matchmaking Services and Marriage Services. The company generates maximum revenue from the Matchmaking Services segment. Geographically, it has a presence in India and Outside India, of which it derives a majority of its revenue from India. | $4 | -19% | $90M | $67M | 1.4x | 8.6x | ||
| iHuman Inc is a Chinese company that uses artificial intelligence to create technology-driven puzzle products for children, making parenting easier and children happier. The company offers a range of intellectual development products that are designed to make the child-rearing experience more manageable for parents while turning intellectual development into a fun journey for children. Its revenue is generated from subscription fees paid by users for premium content on their self-directed and interactive online applications, as well as offline products and other sources. | $2 | -32% | $83M | ($84M) | (0.7x) | (7.7x) | ||
| Mobvoi Inc is engaged in providing AIGC solutions, AI enterprise solutions, smart devices and accessories with generative AI and voice interaction technologies at the core of business. Its business segments consist of AI Software Solutions, which comprise AIGC solutions and AI enterprise solutions; and Smart Devices and Other Accessories. Key revenue is generated from AI Software Solutions. The company geographically operates in Mainland China and Other Countries. | $0 | +9% | $80M | $52M | 1.1x | (6.2x) | ||
| Gunosy Inc is a Japanese company that provides information curation applications on mobiles. | $3 | -- | $78M | $45M | 1.1x | 25.0x | ||
| Mono Next PCL is an entertainment and media company. The business is classified into two segments: Media business; and Content and entertainment business. The Media business, consisting of TV, online and subscribed streaming video and Content and entertainment business, consisting of movie business, entertainment business, commerce and content arrangement business. Company has majority of revenue from Media Business. | $0 | -62% | $73M | $115M | 2.6x | 10.5x | ||
| Skillsoft Corp is a leader in corporate digital learning. The company's segments include Talent Development Solutions and Global Knowledge. Talent Development Solutions brings a foundation of products and customers. TDS enterprise-grade solution serves customers and employees world-wide. TDS Learner is a world-renowned consumer-scale and experiential learning platform that serves learners internationally. The Global Knowledge segment is centered around instructor-led training, or live learning, with face-to-face delivery by experienced trainers, both in-person and virtually. | $7 | -63% | $66M | $552M | 1.1x | 5.0x | ||
| Median | $6 | -9% | $611M | $621M | 1.5x | 6.9x |
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