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Homejoy raised $40 million. I doubt it was ever even close to Unicorn valuation. Am I wrong or is this headline fairly misleading?
by jusben1369 11y ago
Homejoy raised $40 million. I doubt it was ever even close to Unicorn valuation. Am I wrong or is this headline fairly misleading?
- ghaff 11y agoWell, there's no formal definition of "unicorn valuation." But $40 million is a fair bit of money to raise and, if you figure 10x return as a target ballpark, that brings you up to $400 million which is at least in the ballpark of $1 billion.
- jusben1369 11y agoI think Unicorn is very specific and $1 billion is the amount
- maxlamb 11y agoHow much a company raises and its valuation are two completely different things.
- sib 11y agoWhile that is true, it is also unusual for a Series B round to represent less than 10% equity in the target company, so it would be safe to assume a post-money valuation of no more than $400MM.