Unicorn valuations lose their sparkle

How a laid off tech worker became a founder May 23, 2023 Hi, {NAME}. There is plenty of talk about the sad state of unicorn valuations. But what does that really mean? Plus, laid-off tech worker [Anmol Sahai]( didn’t let a setback defeat him. Instead, he became the boss. 🦄 [This chart shows sky-high unicorn valuations are a distant memory]( We look at a [handful of unicorns]( 409a valuations vs. the valuations set by investors during priced funding rounds. They’re meant to reflect how much stock would cost if these companies did go public. It’s not pretty. 🎲 [How this founder rolled the dice after being laid off]( Following his layoff, tech worker [Anmol Sahai]( took the chance to found a workflow software startup for in-house legal teams. This article is Part Four of our series featuring workers displaced by the recent [waves of tech layoffs]( who [decided to found their own companies](. 🩺 [German health care startup Patient21 gets $108M]( [Patient21]( a Germany-based health care platform, has raised $108 million. The company plans to use its funding to expand out of Germany and into new markets. 💰 [Why Bessemer is betting $1B on AI]( [Bessemer Venture Partners]( massive bet on the future potential for AI reflects its belief that the technology is a seismic shift that will fundamentally change the way billions of people work. See what else Bessemer partner [Sameer Dholakia]( has to say. 🤖 [Recently public AI-focused startups are not hot]( Artificial intelligence is the subject generating by far the most buzz in startup circles. But if we [look at AI-related performance on the public markets]( it’s clear that an AI focus hasn’t been a recipe for stock market gains. 🥇 [Top 10 rounds: Big money flowed in explosive funding turn]( After several weeks of one or two nine-figure rounds, last week saw an explosion, with eight rounds to U.S. startups hitting $100 million or more. Water tech startup [Gradiant]( took the lead. 👏 [Maximize your efficiency with automated sales prospecting]( Automated sales prospecting tools can streamline your workflow and allow you to spend more time selling. Here’s how to use them to your advantage and close more deals. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [Tele2]( [$500M]( / [Post-IPO Debt]( Tele2 is a telecommunications company that offers mobile and fixed connectivity, data network services, and IoT solutions. Categories: Internet • Mobile • Telecommunications • Wireless Founders: [Jan Stenbeck]( [Restaurant365]( [$135M]( / [Private Equity Round]( Restaurant365 is a restaurant enterprise management software that provides accounting, inventory, scheduling, payroll, and HR solutions. Categories: Accounting • Productivity Tools • Restaurants • SaaS • Software Founders: [John Moody]( [Morgan Harris]( [Tony Smith]( Investors: [Kohlberg Kravis Roberts]( (Lead), [L Catterton]( (Lead), [Bessemer Venture Partners]( [+ 1 more]( [Sabi Am]( [$38M]( / [Series B]( Sabi is a provider of digital commerce infrastructure for the distribution of goods and services. Categories: B2B • Information Technology • IT Infrastructure Founders: [Ademola Adesina]( [Anu Adasolum]( Investors: [CommerzVentures]( [CRE Venture Capital]( [Fluent Ventures]( [+ 3 more]( More Fundings Company Amount / Round Lead Investor [Chalo]( $20M / [Venture Round]( [Avataar Venture Partners]( [Odyssey]( $15M / [Series A]( [Union Square Ventures]( [Curio]( Unknown / [Funding Round]( [Chris Anderson]( [Stoke Space]( Unknown / [Venture Round]( [In-Q-Tel]( [Carbon America]( Unknown / [Venture Round]( [US Department of Energy]( [All Recent Funding Activity]( Recent Acquisitions [International Gemological Institute - IGI]( Pending acquisition by [Blackstone Group]( for $570M More Acquisitions Company Acquired By Amount [Airside]( [Onfido]( Unknown [All Recent Acquisition Activity]( #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.