Forge Global Holdings, Inc. (FRGE): Marketing Mix Analysis [Dec-2025 Updated]

You're digging into Forge Global's playbook after their solid 2025 performance, wanting to see the nuts and bolts of their market strategy, not just the headlines. Honestly, what I see is a sophisticated infrastructure play: they're not just a marketplace, but a data provider with over 2.6 million total accounts, using proprietary pricing like Forge Price™ to drive value. Their monetization is clear, too; look at their Q2 2025 Net Take Rate hitting 2.4% off transaction fees that typically run 2-4% on secondary deals. So, let's map out exactly how their Product, Place, Promotion, and Price align to keep this engine running strong-you'll want to see the details below.

Forge Global Holdings, Inc. (FRGE) - Marketing Mix: Product

The product element for Forge Global Holdings, Inc. centers on its technology-enabled infrastructure for the private capital markets, which blends a trading venue with data and asset management services.

The core offering is the private securities marketplace for secondary trading. This platform facilitates liquidity for shareholders in late-stage private companies. For instance, in the second quarter of 2025, the trading volume reached $756 million, an increase of 9% quarter-over-quarter from the first quarter's $692.4 million. By the third quarter of 2025, transaction volume normalized to $0.42 billion.

The custodial services component is foundational to the platform's operations. As of the third quarter of 2025, Forge Global Holdings supported 2.70 million total custodial accounts, a 4% increase quarter-over-quarter. Total Assets Under Custody (AUC) stood at $18.4 billion at the end of Q3 2025.

Forge Global Holdings offers Forge Price™, a proprietary private company pricing dataset. This derived, indicative price reflects the up-to-date performance for approximately 200 pre-IPO venture-backed late-stage companies. This data is distributed via Intercontinental Exchange (ICE) channels.

The product suite includes investment vehicles designed to broaden access. The company is developing various investment vehicles, including index-based strategies, with plans to launch its first registered fund later in 2025, enabled by the Accuidity acquisition. The mix of trades, including Single-company fund offerings (SPVs), influences the take rate; for example, the Net Take Rate was 2.3% in Q1 2025 due to large SPV blocks at lower commission rates, improving to 2.8% in Q3 2025 on a more balanced mix.

The Accuidity acquisition expanded asset management and wealth solutions. Forge Global completed the acquisition in July 2025 for $10.0 million in cash and 1.15 million shares of common stock. Accuidity added an additional $220 million in Assets Under Management (AUM) to Forge Global Advisors' existing $1.1 billion AUM. Accuidity reported revenue of approximately $5.7 million for the twelve-month period ending May 31, 2025. Management has reiterated its trajectory to achieve adjusted EBITDA breakeven in 2026.

Here is a snapshot of key product-related metrics as of late 2025 reporting periods:

The platform's data services also include tracking the pipeline of prospective IPOs, with companies like DailyPay targeted for H2 2025.

The product suite is supported by a headcount of 306 as of March 31, 2025.

The company's focus on product development is tied to financial targets, specifically the goal of achieving adjusted EBITDA breakeven in 2026.

Forge Global Holdings, Inc. (FRGE) - Marketing Mix: Place

The distribution strategy for Forge Global Holdings, Inc. centers on its technology-enabled marketplace infrastructure, designed to bring private market access to a broad base of investors globally.

Direct-to-client online Next Generation Marketplace platform

Forge Global Holdings, Inc. uses its Next Generation Marketplace platform to facilitate transactions, which includes an automated negotiation process to reduce friction for users. The platform serves as the primary channel for bringing private share transactions to market for both employees selling shares and investors buying them. The activity on this platform shows significant scale:

• Trading Volume in the first half of 2025 reached $1.4 billion.
• Q2 2025 Trading Volume was $756 million.
• Q3 2025 Transaction Volume normalized to $0.42 billion.
• Q2 2025 Marketplace Revenues (less transaction-based expenses) totaled $18.6 million.

Broker-dealer services through Forge Securities LLC (Member FINRA/SIPC)

Forge Securities LLC is the registered broker-dealer entity that operates the alternative trading system, which is the regulated foundation for the marketplace activities. This entity is a Member of FINRA and SIPC, providing the necessary regulatory compliance for facilitating these private share transactions.

Data distribution via strategic partnerships like Intercontinental Exchange (ICE)

Distribution extends beyond direct trading through data services, enhancing market transparency. Forge entered an agreement with Intercontinental Exchange (ICE) to distribute Forge Price™, a proprietary pricing dataset. This data reflects the up-to-date indicative price performance for approximately 200 venture-backed, pre-IPO companies. Forge also has a partnership with Fortune for data distribution.

Private market hub on Yahoo Finance for data and valuation access

To broaden access to its data, Forge partnered with Yahoo Finance to provide real-time pricing and valuation data for late-stage U.S. private companies. Yahoo Finance platforms draw over 150 million visitors, and the service featuring Forge's data is accessible to all of them, including via the mobile app.

Global network connecting institutional and accredited investors

The network supporting Forge Global Holdings, Inc.'s distribution is composed of a coalition of global players, partners, and investors. The investor base is segmented across institutional and individual participants. As of mid-November 2025, Institutional Ownership stood at 36.76%, while Insider Ownership was 18.04%. The custody business supports this network with significant assets:

• Total Custodial Accounts reached 2.70 million as of Q3 2025.
• Assets Under Custody (AUC) totaled $18.4 billion in Q3 2025.
• Custodial Client Cash balance was $454 million in Q3 2025.

Furthermore, through the acquisition of Accuidity, Forge is working toward launching registered funds, with a strategic focus on distributing these products into retirement channels like 401(k)s and IRAs, expanding the reach to more conventional retail accounts.

Forge Global Holdings, Inc. (FRGE) - Marketing Mix: Promotion

You're looking at how Forge Global Holdings, Inc. communicates its value proposition across the private market landscape as of late 2025. The promotional strategy heavily leans on demonstrating data authority and executive visibility to target sophisticated institutional capital.

Thought leadership via quarterly Forge Investment Outlook reports

Forge Global Holdings, Inc. consistently publishes research to establish itself as a primary source for private market intelligence. This thought leadership is delivered through its Forge Investment Outlook reports, which track market dynamics. For instance, the Forge Investment Outlook Q3 2025 report was released on July 22, 2025, analyzing the resurgence seen in Q2 2025. This follows the Forge Investment Outlook Q1 2025 report released on January 30, 2025. The company also supports this with quarterly financial updates, such as the Q2 2025 results released on July 30, 2025 and the Q3 2025 results announced November 14, 2025.

Strategic data partnerships to increase market transparency and reach

A core promotional pillar involves embedding Forge's proprietary data into widely used financial platforms, thereby increasing market transparency and reach. This strategy positions Forge Global Holdings, Inc. as the data backbone of the private market. The proprietary dataset, Forge Price™, is a key asset being leveraged.

CEO speaking engagements and investor relations to target institutional capital

Executive visibility is managed through targeted appearances at key industry and investor conferences to directly engage institutional capital. CEO Kelly Rodriques and other executives actively participate in these forums. The Investor Relations contact is Dominic Paschel at ir@forgeglobal.com.

• CEO Kelly Rodriques spoke at The Citizens JMP Technology Conference on March 4, 2025.
• CEO participated in a fireside chat at the 2025 Piper Sandler Global Exchange & Trading Conference on June 5, 2025.
• CEO presented at the Oppenheimer 28th Annual Technology, Virtual Internet & Communications on August 11, 2025.
• Howe Ng, Head of Data and Investment Solutions, joined a panel at the William Blair Insurance, Banking & Wealth Technology Conference on August 12, 2025.
• CEO attended the J.P. Morgan 1x1 Virtual Future of Financials Forum 2025 on August 13, 2025.
• CEO spoke at Fortune Brainstorm Tech 2025 on September 9, 2025.

Content marketing focused on AI and high-growth private sectors

Content marketing emphasizes the outperformance of specific high-growth themes, particularly Artificial Intelligence, using proprietary index data. This directly supports the narrative of accessing superior private market returns. The focus is on demonstrating tangible performance metrics rather than abstract concepts.

• Trading in AI and AI-related companies accounted for 34% of all private market trading volume in 2024.
• 40% of the Forge Private Market Index (FPMI) was composed of AI and AI-related companies as of early 2025.
• Forge's AI thematic basket posted a +63.1% Year-to-Date return as of July 29, 2025.
• The company's Q2 2025 trading volume was $756.1 million, up 9% quarter-over-quarter.

Positioning as a comprehensive private market infrastructure ecosystem

Forge Global Holdings, Inc. promotes its integrated technology platform as the essential infrastructure for the modern private market. This is quantified by the growth in assets managed and the platform's technological advancements. The company completed the acquisition of Accuidity, expanding asset management and wealth capabilities, with plans to launch its first registered fund later in 2025.

The launch of the Next Generation Marketplace on June 26, 2025, is central to this positioning, integrating trading infrastructure, proprietary data, asset management, and custody.

Here's the quick math on the ecosystem scale as of mid-2025:

The total revenue less transaction-based expenses for Q2 2025 reached $27.6 million.

Forge Global Holdings, Inc. (FRGE) - Marketing Mix: Price

Forge Global Holdings, Inc. operates on a transaction-based fee model, explicitly stating there are no upfront membership or subscription fees for customers to create an account or access the marketplace. Forge only receives payment when a transaction is successfully completed, charging no fees for unsuccessful transactions. The pricing structure is designed to align compensation with successful execution in the private market.

The realized revenue capture from marketplace activity shows a slight upward trend in the second quarter of 2025. The Net Take Rate was reported at 2.4% in Q2 2025, an increase from 2.3% in Q1 2025. This movement reflects a shift in the mix of transactions occurring on the platform.

Specific fee structures vary depending on the nature of the transaction facilitated through the Forge marketplace subsidiary, Forge Securities LLC.

• Direct secondary transaction fees typically range between 2% to 4%.
• Fund offering transaction fees are typically 1% to 2% of the transaction size.
• Minimum investment for fund offerings can be as low as $5,000.

The Net Take Rate movement from 2.3% in Q1 2025 to 2.4% in Q2 2025 occurred despite fewer large block trades in the latter quarter, suggesting stronger pricing on the standard marketplace activity. The prior quarter's lower rate of 2.3% was attributed to several large Special Purpose Vehicle (SPV) block trades closing at lower commission rates.