High-flying tech startups like Snapchat and Uber are getting humbled
Pride goeth before the fall, they say, and that’s a problem in Silicon Valley because, for the past year, it has been nearly impossible to get tech startups to shut up about how much they’re worth.
The bragging is as public as it is loud. Slack, the startup that builds a workplace communication tool popular among other startups, e-mailed last October to announce it had raised $120 million at a $1.12 billion valuation (precise much?), then e-mailed six months later to say it had raised even more money at a $2.8 billion valuation
Farfetch, a luxury fashion service, summed up the key bullet points lusted after by its startup peers in the subject line of an email I received in March: Farfetch – $86M Series E – $1B Valuation / Unicorn Status Read more…
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