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When enterprise markets flip from greed to concern, there’s a meme that goes round in startup circles that flat is the brand new up. It’s shorthand for the concept that in harder market circumstances, a startup defending its prior valuation in a proximate enterprise spherical is nearly as good as elevating new capital at the next valuation in higher investing circumstances.
The brutal repricing of tech corporations within the final 12 months has led to some notes — together with from this publication — that we had as soon as once more discovered ourselves in flat = up territory. As we speak, nonetheless, the sport seems to be a bit bit totally different.
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Information that Stripe is reportedly attempting to execute a mushy layoff by culling lower-performing employees landed at the moment, together with information that Databricks, one of many different Most worthy startups of all time, trimmed its inside (409A) valuation by a modest quantity, round 7%.
Naturally, you may take a look at the information and assume, dang, a few of these unicorns did get out of pocket final 12 months! In any case, fintech big Stripe took a 28% haircut to its personal inside valuation earlier this 12 months, so absolutely we’re seeing indicators of extra being drained out of the market?
Truly no, not likely.
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