Formlabs

How it happened

Formlabs is a desktop and industrial 3D-printing hardware company that reached a roughly $2B valuation in a 2021 funding round. Amid the broader hardware and venture downturn, third-party estimates (via PitchBook) marked it down to a fallen-unicorn valuation (~-50% from peak) — cooler private-market sentiment rather than a formal down round. Glassdoor reviews ran mostly warm on the product and culture but returned repeatedly to below-market pay and heavy manager turnover, and — tellingly for the markdown — to doubts that employees' stock options would pay off as the still-private company kept raising money and putting off an exit.

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