Multiples Social Networks Index

Curated by Multiples, this index tracks publicly listed social networking and online dating platforms.

Explore the Multiples Social Networks Index

public companies
tracked

$2.4T

cumulative
enterprise value

1.5x

median EV/NTM revenue multiple

median NTM/LTM revenue growth

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Index Performance

This chart shows the weighted market cap evolution over time for the Multiples Social Networks Index constituents, indexed to 0% at the beginning of the period.

+0.0%

Multiples Social Networks Index

Data as of 01 April 2026. Underlying financial data from FactSet and Morningstar. S&P 500 and NASDAQ data sourced from Yahoo Finance.

Key Index Metrics

This chart shows the median evolution over time of key valuation metrics for the Multiples Social Networks Index constituents.

Valuation Benchmarks

This chart shows the regression relationship between valuation metrics across companies in the Multiples Social Networks Index.

x-axis:

y-axis:

Data as of April 1, 2026. Companies with EV multiples above 50x and y-axis values above 250% are considered non-meaningful and excluded from calculation.

Company Rankings

This chart shows company rankings by selected metric within the Multiples Social Networks Index.

Metric:

Data as of April 1, 2026. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.

Companies Side-by-Side

Compare key metrics between companies in the Multiples Social Networks Index.

Metric	Meta	Tencent	Kuaishou
Market Cap	$1.7T	$592B	$34B
EV/Revenue (NTM)	6.6x	4.8x	1.3x
EV/Gross Profit (NTM)	8.3x	8.4x	2.4x
EV/EBITDA (NTM)	11.8x	11.2x	6.9x
EV/FCF (NTM)	195.1x	17.2x	14.4x
Revenue Growth	19%	10%	5%
Gross Margin (NTM)	80%	57%	53%
EBITDA Margin (NTM)	56%	43%	19%
FCF Margin (NTM)	3%	28%	9%
Rule of 40	76%	53%	23%
Rule of X	106%	69%	30%

Data as of April 1, 2026.

Cumulative Metrics

This chart shows the cumulative sum of selected metrics across all companies in the Multiples Social Networks Index, over time.

Index Methodology

Similar to the NASDAQ 100 Index, the Multiples Social Networks Index employs a modified market capitalization weighting scheme.

The weight process uses company-level weights, which are derived using company market capitalization.

Company weights are evaluated based on two rules:

Rule 1

No company's weight may exceed 24%.

Rule 2

The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.

If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.

Rule 1 adjustment

If no company's initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no company's weight may exceed 20% of the Index.

Rule 2 adjustment

If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:

The aggregate weight of the companies whose Rule 1 weights exceeded 4.5% is set to 40%.
Companies with Rule 1 weights below 4.5% may also have their weights adjusted to keep the initial rank order of all companies.

If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.

Companies Included in the Multiples Social Networks Index

This index tracks social networks and online dating platforms connecting people worldwide.


Meta		6.8%	$661	+20%	$1.7T	6.6x	19%	80%	56%	3%	76%	$3M
Tencent		6.8%	$66	+8%	$592B	4.8x	10%	57%	43%	28%	53%	$864K
Kuaishou		3.7%	$8	+18%	$34B	1.3x	5%	53%	19%	9%	23%	$743K
Reddit		3.1%	$147	+26%	$28B	7.6x	39%	91%	43%	38%	85%	$862K
NAVER		6.2%	$168	+24%	$25B	2.4x	8%	100%	24%	15%	35%	$2M
Kakao		4.1%	$38	+48%	$17B	2.2x	4%	99%	20%	13%	27%	$1M
LY Corporation		4.1%	$2	-29%	$17B	1.5x	10%	76%	25%	11%	35%	$340K
Pinterest		6.9%	$17	-31%	$12B	1.9x	12%	79%	29%	28%	42%	$802K
Snap		5.3%	$5	-34%	$9B	1.5x	12%	59%	16%	12%	29%	$1M
Match Group		4.4%	$31	+5%	$7B	2.9x	1%	74%	38%	30%	38%	$1M
TaTaTu		3.1%	—	—	$5B	—	—	—	—	—	—	—
Doximity		6.4%	$26	-55%	$5B	5.7x	9%	90%	53%	46%	64%	$687K
Life360		4.6%	$14	-9%	$3B	4.7x	31%	79%	21%	19%	56%	$860K
Trump Media & Technology Group		4.1%	$11	-55%	$3B	—	—	—	—	—	—	$127K
IAC		4.0%	$39	+11%	$3B	1.5x	-4%	66%	13%	6%	8%	$464K
Weibo		3.2%	$10	+16%	$2B	1.2x	6%	75%	27%	35%	34%	$352K
Grindr		2.9%	$12	-48%	$2B	4.3x	20%	74%	41%	—	62%	$3M
DeNA		2.6%	$17	-29%	$2B	1.7x	-4%	55%	—	—	—	$357K
Rumble		2.5%	$5	-30%	$2B	9.4x	45%	22%	27%	-25%	73%	$745K
Newborn Town		2.3%	$1	+16%	$2B	1.1x	21%	55%	15%	17%	39%	$468K
Webtoon		1.9%	$10	+15%	$1B	0.5x	7%	28%	3%	1%	8%	$768K
ProSiebenSat.1 Media		1.7%	$6	-21%	$1B	0.8x	2%	34%	11%	6%	13%	$591K
Yalla Group		1.5%	$7	-7%	$1B	1.0x	7%	68%	37%	—	44%	$417K
mixi		1.4%	$16	-19%	$1B	0.5x	5%	68%	17%	11%	23%	$1M
Hello Group		1.4%	$7	+14%	$1B	(0.1x)	-1%	37%	13%	12%	10%	$1M
Nextdoor		0.9%	$2	—	$679M	1.1x	8%	86%	6%	4%	11%	$556K
Dear U		0.9%	$29	-11%	$677M	8.3x	15%	100%	49%	38%	68%	—
Strive		0.7%	$8	—	$500M	27.3x	85%	—	-200%	—	-63%	—
VNG Corp.		0.5%	$13	+7%	$396M	—	—	—	—	—	—	—
Bumble		0.5%	$3	-28%	$343M	0.7x	-9%	72%	32%	24%	21%	$805K
Zhihu		0.4%	$3	-17%	$289M	(0.9x)	-7%	63%	-15%	-2%	-26%	$276K
Sunfun Info		0.4%	$1	-5%	$263M	—	—	—	—	—	—	$3M
IBJ Inc.		0.2%	$5	+14%	$177M	1.1x	28%	85%	—	7%	—	$270K
DouYu		0.2%	$6	-24%	$172M	(0.3x)	-3%	—	0%	—	-4%	$754K
Matrimony.com		0.1%	$4	-18%	$96M	1.3x	12%	—	14%	9%	22%	$19K
Triller Group	—	0.1%	—	—	$93M	—	—	—	—	—	—	—
Cookpad		0.1%	$1	-10%	$70M	—	—	—	—	—	—	$60K
Wantedly		0.1%	$7	-9%	$67M	0.9x	1%	—	—	—	—	$288K
Scienjoy Holding		0.1%	$1	+41%	$56M	—	—	—	—	—	—	$705K
Traders Club		0.0%	$0	-63%	$19M	—	—	—	—	—	—	—
Global Interactive Technologies		0.0%	$2	+106%	$9M	—	—	—	—	—	—	—
Bebuzee		0.0%	$0	-90%	$7M	—	—	—	—	—	—	—
UCapital24		0.0%	$0	-61%	$6M	—	—	—	—	—	—	$253K