New York — Startups are not having a good 2023. Valuations soared and unicorn companies, those startups said to be worth $1 billion or more, proliferated. In this environment, money sitting in less risky money markets tends to pay better than high-risk startups. So far this year, nearly 20% of all startups have raised money at a lower valuation than they had previously, according to equity management company Carta. More startups have shut down in the third quarter of 2023 since Carta began tracking the data almost five years ago.

Source: CNN December 09, 2023 07:50 UTC