Comparing pre-money valuations, every startup fundraising stage except seed saw median valuations decline last year compared to 2022, according to data from PitchBook.
A recent TechCrunch+ survey of more than 40 investors found that very few VCs actually expect valuations to rise again this year. In fact, a lot of VCs said valuations will continue to drop, while others think we are already at the bottom.
Kirby Winfield, founding general partner at Ascend, predicted that seed valuations will likely keep declining another 5% to 10% before they normalize. Drew Glover, a general partner at Fiat Ventures, also thinks we aren't at the bottom quite yet.
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