Startup Europe — The Sifted Podcast
European valuations tumble as the great startup fire sale begins
Sep 14, 2023
European startup valuations decrease as more startups sell at discounted prices. Getir's valuation reduces 4x in new $500m funding round. French startups experience a fire sale with many selling at lower valuations. German HR tech company Personio plans to double US workforce. Smart chatbot maker DRUID raises $30m for US business expansion. Opportunities to capitalize on America's $369bn climate bill discussed.
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Quick takeaways
- High valuations and high burn rates pose challenges for companies in the current market.
- A tighter fundraising environment in France is leading to startups selling at significant discounts.
Deep dives
Get Tier faces valuation reduction in new funding round
Get Tier, the speedy grocery company, raised $500 million in fresh financing but its valuation has been reduced by over four times. The company's new valuation stands at $2.5 billion, significantly lower than its previous valuation of $11.8 billion. This highlights the challenges faced by companies with high valuations and high burn rates in the current market.
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