Following from our briefing this week , Square 's IPO was priced at $ 2.9bn , down by less than half , sending shock waves through Silicon Valley , where concerns are increasing that the optimistic assumptions about the growth and profitability of many "unicorns" are unfounded. US could be the first of a series of "down rounds", capital raisings that sharply reduce valuations.
Following from our briefing yesterday, Square's IPO was priced at $2.9bn, down by a half, sending shock waves through Silicon Valley, where concerns are increasing that the optimistic assumptions about the growth and profitability of many "unicorns" are unfounded. Square could be the first of a series of "down rounds", capital raisings that sharply reduce valuations.