- Fraud prevention startup NS8 implodes as SEC investigates them for.... fraud
- Memo to Robinhood traders: "Bankruptcy" usually means the equity gets wiped out
- Thematic next-wave portfolio constructor Motif goes bust
- Siri: What is a "Unicorn circle jerk"?
- AirBnB Pivots to "Virtual Experiences", Lands $1 Billion Down Round
Publicly traded memory maker Violin Memory (VMEM) has posted another quarterly loss in excess of $20M (this is the third or fourth in a row), begging TheRegister to wonder aloud “can they avoid a trainwreck?” Keep in mind, the market cap of the entire company is $36M, which means they are successively putting up quarterly losses worth roughly 2/3 the company’s market cap. This, after 7 funding rounds totalling $187M, their Series D valued them at $800M.
Is this indicative of what happens when you almost but not quite achieve unicorn status?