W is a letter W.

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We like to get data that gives us a glimpse of what is going on. We got new information this week from EquityZen. There were a few IPO predictions put up by EquityZen. Let's see what we can find.

A glimpse of repricing

How do you know when a company is worth a billion dollars? When the company raises a down round that makes it clear that its equity valuation is no longer in the unicorn realm, it's usually the first thing you know.

In most cases, founders won't reveal their new valuation because they don't want to advertise that they've raised capital at a lower valuation than before.

Startup valuations are declining — but not consistently

We don't have a lot of data on what kind of repricing our readers would expect. We were grateful for Instacart, which made it public that it reduced its valuation through a price change. It wasn't good news, but it was helpful. That happened in March.