* Dropbox was warned by its investment bankers that it would be unable to go public at a valuation anywhere near close to what its last private round (which had most recently risen to $10 billion from $4 billion a year ago) valued it at.
* Square, last private valuation of $6bn, $3.9bn at IPO
* Snapchat, written down 25% by Fidelity ($31 -> $23)
* Combined "valuation" of all US unicorns is $486 billion. Their combined profit? $0.
The cresting wave of immense private valuations is crashing onto the rocky shore of public markets. Funding is going to shrivel.
https://news.ycombinator.com/item?id=10546947
* Dropbox was warned by its investment bankers that it would be unable to go public at a valuation anywhere near close to what its last private round (which had most recently risen to $10 billion from $4 billion a year ago) valued it at.
* Square, last private valuation of $6bn, $3.9bn at IPO
* Snapchat, written down 25% by Fidelity ($31 -> $23)
* Combined "valuation" of all US unicorns is $486 billion. Their combined profit? $0.
The cresting wave of immense private valuations is crashing onto the rocky shore of public markets. Funding is going to shrivel.