Down Round Valuation: How to Survive and Protect Your Equity (2025)
Equidam
JUNE 30, 2025
The end of the ZIRP (Zero Interest Rate Policy) era has created a valuation reset that’s forcing founders into down rounds, threatening equity dilution, employee morale, and future fundraising ability. Indeed, companies valued primarily on revenue multiples during 2020-2021 are now the most vulnerable to down rounds.
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