I lead our fintech coverage at Forbes and also cover crypto. I edit our annual Fintech 50 and 30 Under 30 for fintech, and I’ve written frequently about leadership and corporate diversity. Before Forbes, I worked for ten years in marketing consulting, in roles ranging from client consulting to talent management.
Fintech CEOs including Klarna's Sebastian Siemiatkowski , Revolut's Nik Storonsky and Stripe's Patrick Collison face great uncertainty over their startups’ valuations.The current estimated value of 11 leading private fintech startups shows declines as high as 79%. But a few have started to recover., San Francisco Bay Area bill-payment startup Tipalti raised $270 million at an $8.3 billion valuation. Then last summer, shares in the company traded hands privately at a $4 billion value.
Soon after Tipalti’s 2021 fundraise, stocks started tanking and the Federal Reserve began raising interest rates. Amit made aggressive moves to prepare the company for leaner times, laying off 11% of employees. “We knew we had fat in the organization,” he says. While the company maintains sizable staff in Israel, San Francisco and Vancouver, when it started hiring again, it emphasized lower-cost locations like Tbilisi, Georgia.
Keep in mind, as the Tipalti example demonstrates, a falling valuation doesn’t necessarily mean a business is doing poorly.is still the largest digital bank in America. It famously raised funding at $25 billion in 2021 and had a flurry of secondary-market activity a year ago, valuing the company at around $8 billion. Still, its value has fallen even further to $6.5 billion as of March 8, for a total decline of 74%, according to Caplight’s estimate.
But with all their limitations, secondaries comprise real markets where buyers and sellers agree on prices. Caplight CEO Javier Avalos estimates that brokers facilitate between $5 billion and $7.5 billion of secondary-market transactions each year, and Caplight alone tracked about $1 billion in 2023.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal education officials say Alaska owes millions to Juneau, Kenai and North Slope school districtsRules attached to the funding prevented states from disproportionately reducing their funding to high-need districts.
Read more »
Federal education officials say Alaska owes millions to Juneau, Kenai and North Slope school districtsRules attached to the funding prevented states from disproportionately reducing their funding to high-need districts.
Read more »
Gen Z and millennials look to relatives for down payment fundingAn expert joined ABC13 to talk about the trends we're seeing with Gen Z and millennials looking to buy a home.
Read more »
Podcast: MDOT Director Brad White looks down the road at infrastructure funding needsMDOT Director Brad White says the agency needs long-term, steady revenue streams to maintain roads once they’re built.
Read more »
This Crypto Darling Burned Through $2 Billion. Here’s Its Survival StrategyI cover crypto and Wall Street and oversee the Forbes Crypto Confidential newsletter as well as the annual Forbes Blockchain 50 list that features billion-dollar companies utilizing distributed ledgers. I am also a co-editor of the Forbes 30 Under 30 Finance list. Have a tip, question or comment? Contact me at ninabambysheva on Twitter.
Read more »
Alabama Senate passes bill banning state funding for DEI programs, officesSenate Republicans voted to pass a bill that prohibits the use of state funds for programs and offices that promote diversity, equity and inclusion.
Read more »