Our mission at Notice.co is to demystify the private markets for everyone. The most important way we do this is by pricing 1,100+ private companies and making that price available to all market participants. This creates efficiency and transparency in the market, leveling the playing field of investors.

Notice Price is determined using a proprietary algorithm that takes into account two types of price drivers. The first driver is private market activity, including funding valuations, internal valuations, verified trades and indications. The second driver is the public comparables, ie. a basket of companies that are very similar to the company we are pricing. Using these two price drivers, Notice Price is updated every minute, every day, of every year.

Our preference is to rely on private market activity whenever possible since it tends to be more predictive of the next trade. However, this would lead to volatile pricing for the majority of private companies are thinly traded.

We control for this volatility by continuously measuring the market consensus around recent private market activity in every company we price and emphasizing the price driver that best reflects the current amount of consensus.

When the private market consensus is high, we emphasize private market activity more in our pricing algorithm. When the market consensus is low, we emphasize public and private comparables more in our pricing algorithm. This allows us to mark a company's price to market at all times, even when there is little or no private market activity.

The Notice Price Drivers icon shows how long it has been since there was a consensus in the private market for the price of the stock. The longer it has been since a consensus, the more Notice Price is based on public comparables vs. private market activity.

When our algorithm is able to rely more on private market activity, Notice Price tends to be more predictive of the next trade price. However, public comparables can be very helpful for pricing companies when we haven't seen private market consensus for an extended period of time.