CEO Aravind SrinivasFounded 2022HQ San Francisco, US
AI-powered search tool for answering complex, multi-sentence queries with cited summaries
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$20.0B
Series E 2025 · Sep 2025
UpMarket Estimate
$23B
Based on UpMarket valuation model
Previous Price
$9.0B
Series D 2024 Dec 2024
How to Invest in Perplexity Through UpMarket
Perplexity shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Perplexity offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
$1.3B+
UpMarket has brokered over $1.3 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through March 31, 2026. Of the total, approximately $301 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Employee base more than doubled as hiring scaled 82% YoY
Revelio Labs reports Perplexity AI has over 2,000 employees, up 82.6% year over year, suggesting the company is still in an aggressive expansion phase as it builds product, go-to-market, and infrastructure capacity.
Product Milestone
Real-time cited answers differentiate its AI search product
Perplexity positions itself as an AI answer engine that searches the open web in real time and returns concise, cited answers. The citation-first format is a clear product differentiator that makes responses easier to verify and more useful for research workflows.
Market Opportunity
~15M monthly active users and $18B valuation in 2026
Industry estimates put Perplexity at about 15 million monthly active users worldwide and a valuation around $18 billion. This scale points to strong investor belief in AI-native search as a large category.
UpMarket curates and conducts independent diligence on every investment opportunity before it reaches the platform.
Strategy, fees & legal reviewed in full
We review every offering's strategy, risk management, liquidity, fees, valuation methodology, tax matters, and all third-party providers — legal counsel, auditor, administrator, and custodian.
Disciplined managers only
We offer investments exclusively from disciplined managers that pursue unique strategies across an array of asset classes.
Built around your objectives
Our goal is to empower you to build a portfolio that best meets your individual investment objectives.
No. As of March 2026, Perplexity is a private company and does not trade on any public stock exchange. Accredited investors can access Perplexity shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Perplexity does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Perplexity shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Perplexity shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Perplexity has grown to 15M+ monthly active users and a $18B valuation with over 82% YoY headcount growth, positioning itself as the leading AI-native search platform — accredited investors can access Perplexity stock through UpMarket.
