It is well known that the pandemic caused a sharp rise in the price of tech stocks, which also boosted late-stage startup valuations significantly. This trend benefited startups in many industries, including biotech and e-commerce. In addition to receiving record funding, the number of unicorns increased significantly in 2021 to 959, a 69% increase over the previous year. However, according to recent reports, the valuations of late-stage companies are falling as inflation soars and economic uncertainty reigns. PitchBook reports that median pre-money valuations for seed stage companies in Q2 were $12.2 million, maintaining a relatively high level. A hot trend of the year is double-digit valuations at the early stages of company formation.