The rise and fall of the unicorns - investorseurope stockbrokers @offshorebroker
Valuations for private technology firms are rising at a slower clip than they were six months ago. On November 24th Jet, an e-commerce competitor to Amazon, announced that it had raised $350m (valuing the firm at $1.5 billion), a big sum for a loss-making startup, but a lower one than it had first hoped for. Recently Airbnb, a fast-growing room-rental firm, raised $100m, but reportedly stayed at its recent valuation of $25 billion, instead of rising further. Fred Giuffrida of Horsley Bridge, a firm that invests in private-equity funds, reckons that the valuations in late-stage rounds of financing have declined by around 25% in the past six to eight months. These rounds are also taking slightly longer to complete.