[captn3m0]

> Our recent round of funding (500M) and new valuation of roughly $2 billion

Crunchbase says total money raised is $3B. Is it common for companies to reach a negative valuation compared to money raised?

[YetAnotherNick]

It's default, not just common. Anyone investing in research startup knows that there is slim chance that the company will be positive in valuation, just that the upper limit for valuation is very high.