Trax Valuation, Funding & Investors

Whop functions as a marketplace for digital products where entrepreneurs sell communities, online courses, and software tools. It manages memberships across Telegram and Discord with automated role assignments and access controls. San Francisco-headquartered Whop provides payment processing, analytics, and chat features to help creators scale operations and retain subscribers.

hOp is a hyper-local community platform headquartered in Austin, Texas, founded in 2015, enabling neighbors to build customized online groups. Its app fosters communication for local events, marketplace sales, and neighborhood alerts, achieving five times the engagement of traditional social media in targeted areas.

Ziff Davis Inc is a digital media and internet company operating a portfolio of brands across technology, shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity. The company has five reportable segments. The Technology & Shopping segment generates revenue from advertising and commerce content. The Gaming & Entertainment segment provides content, subscriptions, and digital storefront services. The Health & Wellness segment offers digital tools and content for health management. The Connectivity segment provides data and analytics solutions for network performance. The Cybersecurity & Martech segment delivers cloud-based software for security and marketing. It generates the majority of its revenue from the Health & Wellness segment.

Uzum is a Tashkent-headquartered super-app ecosystem powering e-commerce and fintech in Uzbekistan and Kazakhstan. It encompasses Uzum Market for online retail, Uzum Bank for digital payments and loans, Uzum Delivery for logistics, and services like utility bill payments and ride-hailing. The platform integrates shopping, finance, and everyday utilities into one interface. Businesses leverage its marketplace to access millions of consumers across Central Asia.

DealShare is an India-based social e-commerce platform enabling group buying of consumer products like groceries, beauty items, and electronics, targeting non-metro and rural users via mobile and social sharing.

Ganji is a Beijing-headquartered classifieds platform operating as part of 58.com Group following their 2015 merger. The site lists real estate rentals, job postings, used cars, and second-hand goods across 300 Chinese cities including Shanghai, Guangzhou, and Chengdu. Launched in 2005, it attracted 890,000 daily postings by mid-2011 and raised $70 million in Series C funding from Sequoia Capital and Capital Today. Ganji maintains offices in major hubs and focuses on local services like tickets and group buys.

Chongqing-headquartered Zhubajie is China's largest online marketplace for professional services, established in 2006. The platform facilitates non-standard service transactions in areas such as logo design, programming, intellectual property management, and finance, connecting businesses with skilled professionals and institutions nationwide. It listed on the Hong Kong Stock Exchange in 2018.

People Inc is a media and publishing business that operates a portfolio of brands, including PEOPLE, Food & Wine, Travel + Leisure, InStyle, Better Homes & Gardens, and Southern Living. The company also holds a minority equity stake in MGM Resorts International.

Weidian Group is a Guangzhou-based developer of e-commerce platforms tailored for WeChat integration. The service enables merchants to create SaaS-based online stores, manage inventory, process payments, and engage customers via social networks. Popular among small businesses and community shops, it supports product uploads across WeChat channels, serving millions of sellers in China's domestic market.

OfferUp is a mobile marketplace app facilitating peer-to-peer sales of local items including vehicles, furniture, and electronics. Headquartered in Bellevue, Washington, it allows postings to nearby users, interest-based groups, and integration with Craigslist. Features support shipping nationwide via partnerships with Keeta for payments. Following the 2020 acquisition of Letgo, the platform operates in the United States and Canada, with tools for secure messaging and offer negotiations.

KK Group is a Chinese online-to-offline marketplace for imported consumer goods. Shanghai-based, the platform connects mobile shoppers to physical stores in Europe and the US for duty-free purchases of luxury bags, cosmetics, and electronics. Launched in 2015, it fulfills orders via global logistics partners and serves 5 million users through its app.

Paytm Mall is the e-commerce marketplace arm of Noida-based One97 Communications, operating online and via mobile app for consumer goods in India. Launched in 2017, it features cashback deals, seller financing, and logistics through Paytm's network, serving fashion, electronics, and groceries with same-day delivery in major cities.

JOKR is a rapid-delivery online grocer operating across Latin America, including as Daki in Brazil. The Berlin-headquartered company runs micro-fulfillment centers stocking 10,000 SKUs of fresh produce, pantry items, pharmacy products, and local specialties. Algorithms personalize recommendations and routes for 15-minute deliveries in cities like Bogotá, Mexico City, and São Paulo. Backed by investors such as Tiger Global and Kaszek Ventures, JOKR serves over 20 urban markets.

inDrive (formerly inDriver) is a global, peer-to-peer ride-hailing and urban services platform. It stands out from competitors by allowing passengers and drivers to directly negotiate fares, bypassing traditional surge-pricing algorithms. Operating in over 1,000 cities across 48 countries, it is the world's second most downloaded mobility app.

Flutterwave is a Lagos-based payment infrastructure provider serving merchants, fintechs, and enterprises across Africa. The company processes transactions via cards, bank transfers, mobile money, USSD, and QR codes in over 30 countries including Nigeria, Kenya, Ghana, and South Africa. Flutterwave delivers APIs for payment acceptance, payouts, and virtual cards through products like Send, Collect, and Rave. Partnerships with Visa, PayPal, and banks like Zenith enable cross-border payments and e-commerce solutions for businesses such as Jumia and Konga.

Yimidida is a Shanghai-headquartered logistics platform that enables crowd-sourced delivery to rural villages throughout China. Founded in 2015, it streamlines product shipments with features including payment collection, transport insurance coverage, return receipt handling, real-time delivery tracking, dispatch optimization, and truck deployment improvements. The service ensures swift order fulfillment regardless of customer location in remote areas.

Ibotta Inc is a performance marketing platform. It allows CPG brands to deliver digital promotions to consumers through a single, convenient network called the Ibotta Performance Network (IPN).

Mercari operates the largest consumer-to-consumer secondhand goods trading platform in Japan in Mercari, with over 23 million monthly active users and over JPY 1.1 trillion in gross merchandise value in fiscal 2022. We estimate that it currently has over 40% market share in the online C2C market, making it the top platform in Japan. It operates a domestic fintech business and a C2C marketplace app business in the US as well. Domestic business roughly accounts for over 95% of its total GMV.