From Plaid to Brex to Instacart, here are the 20 unicorns that have plunged the most in value in 2023, according to private secondary data
One way to see how private companies are faring is to look at secondary exchanges.Buyers who had been sitting on the sidelines are eager to snap up bargains in battered startups.
Using data from Caplight, which has one of the largest databases of secondary market activity, Insider has generated a grim list no company wants to be on — the biggest unicorn losers of 2023. The secondary prices fallen to the point where patient buyers who were sitting on the sidelines are now jumping back in to take advantage of companies that still hope to go public when markets improve, according to Caplight co-founder and CEO Javier Avalos.
"Secondary transactions present a great opportunity for us to both explore attractively priced new opportunities and also size up our position in our current high performing portfolio companies," said Gabe Greenbaum, general partner at B Capital."We're considering these options in conjunction with our general investment strategy."
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