Cricut
- 🦄Became a unicorn2021
- 📈Peak valuation$4.43 Billion ’21
- 💔Became a Unitard2025
- 💸Last valuation~$930M
How it happened
Cricut makes smart cutting machines and a connected design platform beloved by crafters, selling hardware plus a subscription software service. It rode the pandemic home-crafting boom to a March 2021 IPO at roughly a $4.43B market value; as crafting demand normalized and machine sales stalled, the stock slid for years, and though the company stayed profitable its market value drifted below $1B in 2025-26 — about 79% off peak. Employee reviews chart the hangover from inside: veterans dating the culture shift to the IPO, inventory bets sized to Covid-level demand that reviewers linked to repeated layoff rounds despite steady profits, and hiring freezes trailing each disappointing quarterly report.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: stockanalysis / Macrotrends (March 2021 IPO ~$4.43B market cap; ~$1.04B July 2025 -> ~$936M June 2026, below $1B; flat/declining revenue)
