Stem Inc
- 🦄Became a unicorn2021
- 📈Peak valuation$3 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$66.1M
How it happened
Stem Inc sells AI-driven software (Athena) and services to optimize battery-storage and solar assets, and went public in April 2021 via a SPAC merger with Star Peak Energy Transition Corp amid clean-energy enthusiasm. Growth disappointed, bookings and revenue fell, and losses persisted; the stock dropped about 97% from its post-merger highs, traded below $1 and drew an NYSE delisting warning. Its CEO stepped down in 2024 as the company launched a strategic review. Through the slide, Glassdoor reviews described constant strategy pivots and leadership turnover, recurring layoff rounds that staff complained repeatedly landed before stock grants vested, and an unresolved hardware-versus-software identity question as talent left.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Motley Fool / Energy-Storage.news / SEC (SPAC merger with Star Peak Energy Transition Corp April 2021; stock fell ~97% from post-SPAC highs; CEO stepped down Sept 2024; NYSE sub-$1 warning)
