Values of European unicorns plunge amid sharp fall in public markets

A rough year in public markets has taken a heavy toll on startups. According to new research, every unicorn in Europe that went public in 2021 has since shrunk in valuation. The losses follow record-highs for VC exit valuations in 2021. PitchBook, a financial data firm, attributed the downturn to a shrinking public market. The company found that 13 unicorns went public during 2021’s bull market and IPO frenzy. Yet none have gone on to have positive share price returns. Their numbers paint a gloomy picture. By the end of 2022, more than half of them had lost over 75% of their…

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