Pro Weekly: The Rare Startup With a Rising Valuation

Welcome back! 

It’s no secret that the valuations of tech companies have fallen in the past year or so. We offer a window into just how far valuations of once high-flying startups have declined in our updated Tech IPO Tracker, which now includes estimated valuations of companies that were looking to go public as recently as last year. Since their most recent private fundraising rounds, valuations of these startups have fallen as much as 93%.

One company on our list bucked the trend—car-sharing marketplace Turo. Caplight, which tracks secondary market trading, estimates that Turo is now valued at $2.7 billion, more than double the $1.3 billion of its last round. In part that’s because, unlike other companies on our tracker, Turo last raised money in early 2020, before the big run-up in tech shares during the pandemic. Caplight, which aggregates data from broker dealers, market participants and public sources, shows three bids to buy Turo shares this month that value the company between $2.5 billion and $2.7 billion.