Tech Startup Failures: $27 Billion Raised, 3,200 Companies Shut Down
TL;DR Summary
Startups that failed this year raised over $27 billion in venture funding, a figure close to the amount raised by startups in the third quarter of 2023. However, this cash burn figure does not include losses from public companies or acquisitions. The decline in VC funding compared to last year has contributed to the challenges faced by startups, leading some to describe it as a "mass extinction event" for the industry.
- 3,200 startups that failed this year had raised $27 billion: PitchBook Business Insider
- From Unicorns to Zombies: Tech Startups Run Out of Time and Money Yahoo! Voices
- Shutdowns, layoffs cap a tumultuous year for tech startups The Business Journals
- VC-Backed Companies Go Under in 'Difficult Year' for Startups PYMNTS.com
- From Unicorns to Zombies: Tech Start-Ups Run Out of Time and Money The New York Times
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