Perplexity Stock: Searching for Hints of a Perplexity IPO

Explore opportunities to invest in Perplexity stock before and during the IPO.

Invest in leading AI, fintech, and defense startups at Fundrise Venture*. 

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Notable Perplexity News

12/05/2025: NYT Sues Perplexity
09/10/2025: Perplexity finalizes $20 billion valuation round
07/09/2025: Introducing Comet
06/20/2025: Apple Execs Discussed Buying Perplexity
Older news…

About Perplexity

Perplexity is an AI startup founded in 2022 that has a mission to democratize access to knowledge by unraveling complex queries and providing users with precise and informative answers.

The company was founded by Aravind Srinivas, Andy Konwinski, Denis Yarats, and Johnny Ho. Srinivas previously worked at DeepMind, Google, and OpenAI before founding Perplexity. By entering the search space dominated by Google, Srinivas is looking to improve upon existing models by focusing on accuracy and transparency.

Perplexity’s search engine provides answers to search queries backed by attributed sources. It also offers suggested queries that the user may find helpful and organizes the information in a modern format. Users can sign in to save threads and try Discovery mode to explore the web. 

The technology backing the tool includes multiple LLM models such as OpenAI’s ChatGPT, Google’s Gemini, Anthropic’s Claude, Mistral, and an exclusive Perplexity AI model for paying subscribers. 

It also created Perplexity Copilot, an interactive AI search companion that gives in-depth answers and personalized responses — a digital assistant powered by the most advanced AI models that provide concise answers to save users time. Here’s a peek at Copilot.

Ownership

Perplexity is a venture-backed private company. Its primary owners are the co-founders, venture capital firms, technology companies, and employees.

Prominent venture capital investors include New Enterprise Associates, Institutional Venture Partners, Bezos Expeditions Fund, NVIDIA, Elad Gil, Nat Friedman, Databricks Ventures, Tobi Lutke, Bessemer Venture Partners, Naval Ravikant, Balaji Srinivasan, Guillermo Rauch, Austen Allred, Factorial Funds, Kindred Ventures, Daniel Gross, Stan Druckenmiller, Garry Tan, Andrej Karpathy, Dylan Field, NEA, Jakob Uszkoreit, Brad Gerstner, Lip-Bu Tan, and SoftBank.

IPO Potential

The Perplexity IPO date is currently unknown and likely a few years away. Though if other successful AI IPOs have successful offerings, it may be motivated to debut sooner. 

CEO Aravind Srinivas told followers of the Perplexity Reddit thread:

We have all the funding we’ve raised, and our revenue is only growing. The objective behind Auto mode is to make the product better, not to save costs. If anything, I have learned it’s better to communicate more transparently to avoid the any incorrect conclusions. Re IPO: We have no plans of IPOing before 2028.

Perplexity is seen as an alternative to Google’s decades-long grip on search. Many of the tech behemoth’s rivals would love to own this company if it can continue to take market share from Alphabet.

However, Google’s Gemini is proving to be a top-performing AI LLM model, cannibalizing its own search traffic with AI.

I’ll update this webpage with the latest information when it becomes available. 

Funding Rounds

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Valuation

The latest confirmed Perplexity valuation is $20 billion based on the Series E extension funding round that closed in September 2025.

Perplexity has raised more than $1.6 billion in venture capital funds to date. 

How to Invest in Perplexity Stock

Since Perplexity is a private company that still has a relatively small valuation, it is challenging to become an equity owner today.

However, by taking the actions outlined below, you can increase your chances of early equity ownership or obtaining shares in the IPO.

Accredited investors will have an easier time using pre-IPO investing platforms. Non-accredited investors can look to venture capital funds for access to pre-IPO companies. 

1. Invest in Perplexity stock via pre-IPO investing platforms

The author has seen multiple opportunities to invest in Perplexity stock on various pre-IPO investing platforms. 

Having grown to a sizable valuation in less than five years and growing quickly, early investors and employees are consistently selling shares on secondary marketplaces.

For direct ownership and access through special purpose vehicles (SPVs), platforms like Hiive provide accredited investors access to pre-IPO startups through a marketplace of buyers and sellers. 

Investors interested in direct ownership or fund access can monitor Hiive and other pre-IPO platforms, including EquityZen, Augment, Equitybee, and Forge Global, for current share availability. 

Minimum investments on these platforms range from $10,000 to $50,000 or more. 

Accessing pre-IPO data, deal alerts, and expressing interest in unavailable startups is free when signing up online.

2. Buy Databricks or NVIDIA

Indirect investing in pre-IPOs is the easiest and lowest-risk way to gain investment exposure. However, upside potential is very limited. 

Indirect investing in pre-IPOs is the easiest and lowest-risk way to gain investment exposure. However, upside potential is very limited. 

Databricks and NVIDIA (NVDA) have invested in Perplexity, so retail investors can invest in those companies for indirect exposure.

Databricks is a private company, but it’s one of the most liquid pre-IPO startups out there. Private shares are readily available on platforms like Hiive. 

Retail investors can buy NVIDIA stock on the public market to gain exposure to Perplexity equity. However, NVIDIA is a huge company, and the exposure is negligible. 

2. Access Perplexity via Venture Capital Funds

Non-accredited retail investors are excluded from most pre-IPO marketplaces and direct ownership. 

However, non-accredited investors can invest in pre-IPO companies by investing in venture capital funds like the ARK Venture Fund. Perplexity is a current holding.

Other products like the one available at Fundrise Venture(review) are also good options for accessing mid- and late-stage venture-backed startups.  

These funds own pools of private companies that would be otherwise inaccessible. 

There are limitations. Investors cannot select individual pre-IPO companies, and Perplexity stock is currently not in the portfolios. Monitor the portfolios for the latest holdings. 

The minimum investment for Fundrise Venture is $10. The ARK Venture Fund minimum is $500.

Check out our list of top pre-IPO investing platforms for current share availability across platforms. 

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

4. Buy the stock after the IPO

Most investors will not acquire pre-IPO shares or receive an allocation during the IPO. They will need to wait until an IPO to buy the stock in the open market. 

Investing after the IPO has advantages. The market-based pricing and regulated filings reduce investor risk. Furthermore, public numbers make it easier for retail investors to perform due diligence before investing. 

Avoid chasing over-inflated share prices immediately after the IPO. Stock price declines after IPOs can be excellent entry points.

Be selective and patient. The most disruptive companies are likely to experience higher valuations a decade from now.

Conclusion

Retail investors often become interested in buying startups riding extraordinary macroeconomic and technology trends (AI, search disruptors) before they go public. 

However, acquiring ownership in Perplexity and similar companies is challenging for retail investors, especially non-accredited ones, due to regulations and high demand for shares. Perplexity is also relatively new, and its valuation will need to grow before private shares become more available. 

Pre-IPO investing platforms have opened more opportunities for retail investors. However, availability is still limited. Monitor platforms for the latest availability. 

Investors will likely hit roadblocks trying to obtain pre-IPO shares or IPO shares if the company chooses a public offering. 

Perplexity has recently taken advantage of the private AI funding bonanza and may need more private money soon to grow. The company may also be susceptible to changes to LLMs such as ChatGPT, Claude, and Mistral Large. It is building an in-house model to mitigate this risk. 

If you want to pursue pre-IPO equity in Perplexity, look first to pre-IPO platforms. As Perplexity grows and early employees seek liquidity, more availability may emerge.

Good luck if you wish to buy Perplexity stock. Invest in pre-IPO and IPO companies at your own risk.