This article and image were originally published on TechCrunch
Aziz Gilani, one of Mercury Fund’s Partners, wrote an article about elusive startup unicorns in the context of the recent writedown of Snapchat, one of tech’s most notorious unicorn deals.
Snapchat is worth a lot less this month than it was last month.
Fidelity, one of tech’s most active late-stage cross-over investors, recently decided that Snapchat is worth about $23/share, instead of the $30/share initially estimated.
It’s part of an ongoing trend of cross-over investors trying to figure out exactly what unicorns are worth.
But what does that mean for the average entrepreneur?
The bubble didn’t pop. It just landed back on our planet. The best thing you can do for yourself, your company, and your future investors is build a business that works in real life.