venture capital
Over 3,200 Venture-Backed U.S. Startups Have Failed in 2023
Danelle Sammy · December 8, 2023 · 1 min read
Data compiled by PitchBook for The New York Times reveals that approximately 3,200 private venture-backed U.S. companies have gone out of business this year, with a combined $27.2 billion in venture funding raised. PitchBook notes the data may not fully capture the extent of failures as it possibly undercounts the total and excludes high-profile public failures or acquisitions. Social media reactions range from disappointment to skepticism, with some users highlighting a lack of focus on cash flow and profitability among startups, and others comparing the current situation to the dot-com bust of the early 2000s, suggesting such a high number of failures is typical following an investment bubble.
Source: Craig Fuller
3200 venture-backed startups have gone out of business this year - NYTimes. pic.twitter.com/x3ABYWRKz2— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) December 7, 2023
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