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Expensify

Fintech / expense SaaSUSA
📉 Public < $1B
Peak $2.3 BillionToday
−93%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $2.3 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$170M
Current status
Public (Nasdaq: EXFY); market cap a fraction of its $2.3B IPO after a ~90% stock slide.
Live · EXFY· NasdaqGS
as of 2026-06-29
$1.76▲ 7.32% today
≈ $170 Million market cap · −92.6% from peak

How it happened

Expensify built an expense-management app and went public in November 2021 at $27 a share, valuing it around $2.3B. Growth stalled as small businesses slowed hiring and trimmed software spend; revenue shrank and the stock fell more than 90%, leaving it worth a few hundred million — well below $1B — with a securities class action over its IPO-era disclosures. Glassdoor reviews skew warm — long-tenured staff praised the flat, no-managers structure, generous pay and stock, and work-from-anywhere perks. But reviews from the post-IPO years also noted strain behind the slide: redundancy rounds some felt were abrupt, a relentless pace and burnout, and roadmap churn a few said pulled focus off the core product.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.

Source: Motley Fool / Seeking Alpha / stockanalysis ($27 IPO Nov 2021 at ~$2.3B; stock -91% to ~$2.42 by Nov 2023; securities class action over IPO disclosures)

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