The severity of the funding winter in the startup ecosystem and ensuing layoffs have prompted jobseekers to gravitate towards companies that are profitable, and offer job security
Janus Henderson reduced the valuation of its holding in the firm by half which translates into an approximate valuation of $2.8 billion as of December 31, 2022.
Since the start of 2022, companies including unicorns Unacademy, Meesho, Swiggy and Cars24 have reduced costs heavily to extend their runway by at least 12 months
The entrepreneur and investor also shared some graphs from a report by Bain and Company which revealed that start-up funding has been declining consistently since June 2022.
According to filings, Invesco – which led Swiggy’s $700 million round in January last year – valued the Bengaluru-based company at $5.5 billion as of January 31, 2023, as per the latest filing.