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SINGULAR VENTURE
Kevin Wilson · Principal · New York
Private Placement · Pre-IPO Access

Perplexity.

The answer engine replacing search.
Invest in Perplexity through a Singular Venture SPV — before any public-market listing.
$22.6B
Last reported round
Jan 2026
$450M+
Annual recurring revenue
Mar 2026
2028
Planned IPO
Per the CEO
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
KEVIN@SINGULARVENTURE.COM
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
02 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
01 · The Proof

Revenue more than doubled in six months.

ARR · publicly reported
$63M$148M$200M $450M+ DEC 2024JUN 2025SEP 2025 MAR 2026
100M+
Monthly users across products
1B+
Queries answered a month
$656M
Company's 2026 ARR target
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
03 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
02 · What It Is

One question in. One cited answer out.

You ask
"What happens to bond yields if the Fed cuts twice this year?"
It answers — in seconds
Short answer: the front end falls first. Two cuts imply roughly 50bps off 2-year yields, while the long end watches inflation…
ReutersBloombergWSJ
01

Answer engine

The core product: ask anything, get a direct answer with sources.

02

Comet

A free AI browser — #3 on the App Store within 48 hours of iOS launch.

03

Computer

An agent that takes a goal and runs the whole workflow itself.

SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
04 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
03 · The Moat

The answer layer — above every model.

Perplexity doesn't bet on one AI lab. It routes each question to whichever frontier model answers it best — and owns the user either way.
Model-agnostic
GPT, Claude and Gemini work for it.A $750M Azure commitment buys access to every major model — no single-lab risk.
Distribution
OS-level on Samsung's Galaxy S26.The first non-Google company integrated at the OS level, plus a reported $400M Snapchat partnership.
Trust
Every answer cites its sources.The habit that made it the default research tool — subscription-first since Feb 2026, no ads.
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
05 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
04 · Momentum

~175× in thirty months.

$1.72B raised across 11 rounds · 63 investors on the cap table.
$121M
Apr 2023 · Series A
$9B
Dec 2024
$20B
Sep 2025 · $200M round
$22.6B
Jan 2026 · Series E-6
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
06 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
05 · By the Numbers

The company, in six figures.

$22.6B
Reported valuation, Jan 2026
$450M+
ARR, Mar 2026 — from $63M end-2024
100M+
Monthly users across products
1B+
Queries answered a month
1,389
Employees, Jun 2026
2022
Founded · San Francisco
2026 plan
$656M ARR and a browser on every platform.The company's own roadmap target — with Comet now free on desktop, Android and iOS.
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
07 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
06 · The Cap Table

Who's already on the cap table.

Nvidia
Strategic
Jeff Bezos
Angel · Early
SoftBank Vision Fund 2
Lead · Series C
Accel · IVP · NEA
Lead rounds
Databricks · Bessemer · T. Rowe Price
Growth
Eleven rounds. 63 investors — plus individuals from Shopify's Tobi Lütke to Cristiano Ronaldo. Investors listed have not endorsed this offering; your name does not appear on this cap table.
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
08 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
07 · Why Now

The window has a date.

i

2028 is on record

The CEO has publicly committed to a 2028 IPO. It is a stated plan, not a promise — until then, eligible investors may participate only through a private placement.

ii

Valuations have stepped up

$9B → $18B → $20B → $22.6B in roughly one year. Company milestones may affect private-market valuations, although no increase in value is assured.

iii

Revenue is catching up

ARR grew so fast the multiple compressed from ~100× to ~50× — stronger fundamentals than the last round priced.

SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
09 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
Kevin Wilson · Principal · New York
08 · Risks

What every investor should weigh honestly.

01

Google and OpenAI.AI Overviews and ChatGPT search attack the same ground — and Google owns distribution on three billion devices.

02

Legal overhang.Copyright and content-use disputes with major publishers remain unresolved.

03

A rich price.~50× ARR — and some recent secondary prints sit at, or below, the last round.

04

Illiquid and speculative.Private stock can't be freely sold. You may hold for years — or lose the entire investment.

Reported valuations are private-round marks, not public prices. No liquidity event is guaranteed — a 2028 IPO is a stated plan, not a promise.
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
10 / 12
An SPV is a group buying in together. Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV — plus your pro-rata share of any gain, after fees.
SINGULAR VENTURE
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OverviewInvestmentsDocumentsStatementsMessages
Artificial Intelligence

Project

Position
Confirmed
Basis
AT COST
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01

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A 24/7 AI. Ask anything about your investment, any hour.

02

Client Portal

One login. Your position, every document, every update.

Anything the concierge can't answer, we call you right back.
kevin@singularventure.com
operations@singularventure.com
+1 (973) 229-2497

The deal closes.Your concierge opens.

Singular Venture forms the SPV, the SPV buys the Perplexity shares, and you hold a membership interest in the SPV. The concierge and portal do not replace the definitive offering documents.
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
11 / 12
SINGULAR VENTURE
Kevin Wilson · Principal · New York
How to participate

Invest in Perplexity through a Singular Venture SPV.

Eligible investors buy an interest in a Singular Venture SPV. The SPV purchases and holds the Perplexity shares. Three steps, start to finish.

Kevin Wilson
Kevin Wilson
Principal · Singular Venture
New York
kevin@singularventure.com operations@singularventure.com
+1 (973) 229-2497
STEP 01
Confirm accredited-investor status and reserve an allocation.
STEP 02
Review the definitive offering documents — structure, fees, transfer restrictions and risks.
STEP 03
Countersign and fund. You own an interest in the Singular Venture SPV; the SPV owns the Perplexity shares.
IMPORTANT INVESTMENT INFORMATION. Shares of Perplexity are purchased and held by a Singular Venture SPV — a limited liability company formed for this single investment. Investors become members of the SPV and hold a membership interest in it, sized to what they put in. The SPV is the shareholder of record on Perplexity's cap table; investors do not hold Perplexity shares in their own name and do not have shareholder rights in Perplexity. Investors share in the economic results of the SPV's investment, after fees and expenses. Eligibility requirements, transfer restrictions and conflicts of interest are described in the definitive offering documents, which control all terms. Private investments are speculative, illiquid and difficult to value; an exit typically takes years, none is guaranteed, and you may lose the entire investment. No IPO, acquisition, liquidity event or return is guaranteed. For informational purposes only; not an offer to sell or a solicitation to buy any security. Any offering is made solely to eligible accredited investors. Figures reflect publicly reported information about Perplexity AI and are not verified or endorsed by the company. Reported valuations are private-round marks, not public prices. Singular Venture is not affiliated with Perplexity AI. Sources: public reporting; Financial Times; Reuters; CNBC; Tracxn.
SINGULAR VENTURE
KEVIN WILSON · PRINCIPAL · NEW YORK
KEVIN@SINGULARVENTURE.COM