It took less than two years for Zenefits to become one of the hottest startups in Silicon Valley, raising more than $500 million at a $4.5 billion valuation. But a new report by The Wall Street Journal's Rolfe Winkler suggests the company may be failing to reach its sales goals and lofty expectations — leading mutual fund investor Fidelity to mark down the value of its investment in the company by nearly half in September, which implies a $2.34 billion valuation. The report says Zenefits is...
The $4.5 billion startup Zenefits has lost half of its value after missing sales goals
Business Insider - 13 Nov 2015 03:22
It took less than two years for Zenefits to become one of the hottest startups in Silicon Valley, raising more than $500 million at a $4.5 billion valuation. But a new report by The Wall Street Journal's Rolfe Winkler suggests the company may be failing to reach its sales goals and lofty expectations — leading mutual fund investor Fidelity to mark down the value of its investment in the company by nearly half in September, which implies a $2.34 billion valuation. The report says Zenefits is...
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