The experience of a company going from a $58 billion valuation to zero, which is a clear example of a down-round scenario.
The experience of a company going from a $58 billion valuation to zero, which is a clear example of a down-round scenario and its potential consequences for founders and investors.
This has to be one of the wildest stories in the history of tech. In 2000, Palm was actually worth more than Amazon, Nvidia, and Apple all combined. Palm was an American company that led and pioneered the personal digital assistant market. Their iconic Palm Pilot literally revolutionized the industry back in the 90s. It was compact, easy to use, and had all the features that anyone could ask for, like calendar or taking notes, anything you wanted. It even had its own operating system, the Palm OS. By 2000, they were making a killing. Over 30 million units sold and over a $50 billion valuation. Yet, it failed miserably. By the mid200s, their revenue had already plummeted, mainly because they were unable to compete with the likes of Apple as well as Blackberry. In 2009, they actually ended up being acquired by Huelet Buck for only $1.2 billion. The craziest part is that the co-founder said
that in 2009, Apple will be selling fruit. If you're raising money, go to startup fundraising.com and trooper charts with AI.