Notice Price represents the best available consensus price for private venture-backed companies.

As discussed in this blog post, we use five data inputs to determine Notice Price:

All the above data inputs are contextually incorporated using a proprietary Notice Price algorithm that considers and weights company-specific data and private market data inputs based on the source and age of each data point.

We source trades, bids and offers from our global collective of market participants, which include 90+ independent brokers and 2,500+ individual investors.

Every three seconds, the Notice Price algorithm looks for a price consensus in the private market using company-specific and private market data inputs. This consensus is measured on a continuum, as indicated by Notice Price Drivers icon shown next to the Notice Price.

If the Notice Price algorithm determines that price consensus has recently existed among the company-specific and private market data inputs, Notice strongly favors the current market consensus when setting the current Notice Price for the company's stock.

If the Notice Price algorithm determines that price consensus has not recently existed among the company-specific and private market data inputs, Notice strongly favors comparables when setting the current Notice Price for the company's stock.

Notice regularly receives new private market data from our global collective of market participants. When this data is added to our database, the Notice Price algorithm automatically incorporates it to set the current Notice Price and recalculates the historical Notice Price for the relevant company. This way, Notice Price always reflects the totality of private market data that we have.

Whenever Notice Price is updated, anything that relies on Notice Price, such as Notice Rankings and the Notice 50 Index, will also be updated.

We want Notice Price to be good at predicting the next trade price, and we consider this to be the best way to measure Notice Price accuracy. If we look across all trades in our database, 80% of them fall within a range of +20% and -20% of the Notice Price when those trades occurred.

Building the best private company pricing in the private markets requires iteration, and each iteration of the Notice Price algorithm increases the accuracy of Notice Price. The latest iteration of Notice Price algorithm is v1.3.

All Notice members have free access to real-time Notice Price. By purchasing Notice Pro, you can get full access to financing rounds, internal/external marks, market activity data and all investor tools for 7,200+ companies.

Please contact us to learn more.