Weights & Biases

wandb.ai

-42%

est. 2Y upside i

DevOps & Infra

Machine learning experiment tracking and model management platform

Rank

#3623

Sector

Developer Tools

Est. Liquidity

~2Y

Data Quality

Data: Medium

Given a high implied multiple of 34x, strong open-source and incumbent competition, and a negative expected upside of -42% over 2 years, this equity grant is unattractive.

Last updated: July 3, 2026

Bull (15%)+97%

Holds 30x multiple on projected $120M revenue due to AI tailwind and successful integration with CoreWeave, resulting in $3.6B exit and $3.35B to common after $250M preference.

Base (40%)-51%

Multiple compresses to 9x, exit $1.08B, common $830M after preference, down 51%.

Bear (45%)-79%

Multiple drops to 5x due to competition from cloud hyperscalers, exit $600M, common $350M, down 79%.

Est. time to liquidity~2.0 years
Adjusted for competitive dynamics: -44% (raw: -42%, adjustment: -2%)

Preference Stack Risk

moderate

Funding Intensity

1470%

$250M liquidation preference (1x non-participating) equates to 14.7% of $1.7B valuation.

Dilution Risk

low

No anticipated dilutive financing due to acquisition.

Secondary Liquidity

limited

Liquidity options depend on CoreWeave's eventual exit (IPO or sale).

Questions to Ask at the Interview

Strategic questions based on Weights & Biases's data — designed to show you've done your homework.

  • 1

    How does W&B differentiate from MLflow given the latter's open-source momentum?

  • 2

    What is the path to profitability with $50M revenue and $250M funding?

  • 3

    How does the acquisition by CoreWeave affect your equity liquidity and upside?

Community

Valuation Sentiment

Our model estimates -42% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.