Startups VC-Backed That Go Public and Get Crushed, From Casper to Bird
- Bird was the latest VC-backed startup to show signs of distress after hinting this week at a possible bankruptcy.
- The company is one of many past success stories fighting against competition in a difficult economy.
- Here are four of most recent VC-backed startup failures.
It’s been a difficult year in startups.
Many fledgling businesses are left without the capital they need to start their ventures in a difficult economy as venture capital funding is declining. According to data from CB Insights, VC funding fell 23% between the first and second quarters of this year. It is expected that it will drop to its lowest level since 2020. reported by Bloomberg.
Meanwhile, VC-backed startup darlings of recent years — many of which held the vaunted $1 billion valuation unicorn status — are suddenly unable to keep their heads above water. These early success stories are resigning after failing initial public offerings. They turn to private equity firms to try and stay afloat.
Here’s a look into four of the largest VC-supported startups which went public and then crashed in recent times.
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