Hootsuite: The Unicorn That Never Was
- Canadian startup’s valuation wasn’t close to $1 billion
- Hootsuite could potentially go public later this year
Hootsuite: The Unicorn That Never Was
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For more than two years, it has been widely accepted that Hootsuite is one of Canada’s very few unicorns -- startups worth at least $1 billion. Turns out it was never worth that much.
Hootsuite Media Inc., whose software helps businesses manage their social media accounts and advertising campaigns, raised $60 million at a reported valuation of $1 billion in September 2014. In fact, the true valuation was between $700 million and $750 million, according to people familiar with the matter.