The silly season is over In the land of venture capital.
Today, both investors and founders tire your ears with notes More cash flow positivity And theirs Timeline for Adjusted EBITDA profitability.
Lame.
While today’s venture capital landscape is generally bleak, filled with conservative valuations, shrinking deal volumes and more investors sitting on mountains of capital, at least we’ve learned today. some They are people. Enjoyment.
Enter Liquid Death, a direct-to-consumer water company that raised $70 million at a $700 million valuation, according to Bloomberg. The transaction makes liquidation death 70% of unicorns.
Why is it so expensive? Because water a development Business, boy! Bloomberg Katie’s roof – Former TechCruncher – wrote that the company is “on $130 million in revenue this year,” compared to last year’s $45 million high. That’s the kind of growth that investors crave.
Liquid Death has a few things that make the deal somewhat reasonable from my perspective. Of course, it’s easy to dance around a $700 million water startup when cheaper options abound. Other fizzy water brands, making your own bubbles, or drinking straight tap water like a farmer are all options.
