Vertical Aerospace
- 🦄Became a unicorn2021
- 📈Peak valuation$2.1 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$209M
How it happened
Vertical Aerospace is a British developer of the VX4, a battery-powered eVTOL air taxi, and went public on the NYSE in December 2021 via a SPAC merger at a market value around $2.1B amid the flying-taxi hype. Years later it remained pre-revenue and cash-hungry against a brutal eVTOL downturn; the stock collapsed roughly 90% and the company warned of serious doubt about its ability to continue. Glassdoor reviews from Bristol staff painted a chaotic, frequently reorganized company — org charts and priorities that changed every few months, recurring rounds of redundancies, and a top-heavy middle-management layer that staff said slowed decisions. A debt-for-equity restructuring later bought it time, though its market value stayed well below $1B.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Yahoo Finance / Motley Fool / Seeking Alpha (SPAC merger Dec 2021, ATH Dec 2021, market cap ~$2.1B; fell to ~$278M, -98% on the stock; pre-revenue, going-concern doubt, debt restructuring and ~$160M financing)
