[klelatti]

> Then in maybe one of the best rug pulls of all time, in July they quietly changed their valuation to $500 million. A 75% cut in four months. I’ve never seen anything like that since the 2008 financial crisis.

Not sure where the author is getting their information from but there is seemingly little correlation between the investment rounds quoted in this post and other online sources. No mention for example of the Series E that valued Groq at $6.9bn.

[joshcsimmons]

Thank you for calling this out. I have edited and added a footnote there. Their valuation wasn't 500mil it was their revenue projection.

The 6.9bn valuation is accurate though https://www.prnewswire.com/news-releases/groq-raises-750-mil... https://www.reuters.com/business/groq-more-than-doubles-valu...

[lostlogin]

It’s good that you have done that but does that section make sense? It says there was a 75% revenue cut, but the prior number is valuation, not revenue. Or was valuation and revenue the same at that time (seems unlikely)?

Edit: some searching about suggests that Groq initially projected $2 billion in revenue for 2025, later cutting that forecast to $500 million. That appears to have be what this article is trying to say.

https://www.investing.com/news/company-news/groq-slashes-202...