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What Square's Down Round IPO Means for FinTech Valuations: Is It VCs vs. Retail Investors?

In the startup world, if you receive $10M as series A funding and if your series B happens at around the same or lower valuation and you are getting $7M funding (say), it is considered bad; it is called the down round. In Square’s case, something similar is happening, although the next round is not a private investor round but a public listing (IPO). In the last few quarters, unicorn market caps have been under pressure. As per BI, most of the big Internet companies have lost at least 25% of their value between April 30 and September 30. I wonder if Square’s IPO valuation is an issue with the company fundamentals or of the IPO market right now. I ...

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