The Launchbay Index has shown remarkable performance, growing 12% in November alone and 70% year-over-year—outpacing the Nasdaq-100, which posted gains of 5.6% monthly and 32.3% annually over the same periods.

This growth wasn’t solely driven by AI companies. Impressively, 17 out of the 25 Index companies experienced valuation increases this month. In November, Index companies accounted for 67% of the listed volume on the Launchbay platform, up from October—a trend that held steady throughout 2024. For context, the Nasdaq-100 represents about 80% of the weighting in the Nasdaq Composite.

November Highlights:
Top-5 companies in the Launchbay Index (OpenAI, SpaceX, ByteDance, Stripe, and Databricks) represented 31% of all listed volume on the platform.

Year-End Achievements:

• Median Implied Valuation Growth: +51%
• Median Valuation-to-Revenue Ratio: 19
• Category Leaders:
  Revenue Growth: Anthropic with an astonishing 1000%
  Implied Valuation Growth: xAI at 350%
  Valuation-to-Revenue Ratio: OpenAI leads, though xAI may surpass this pending 2024 revenue data.

The Launchbay Index reflects the momentum of private tech markets and sets a high bar for 2025.