Weave
- 🦄Became a unicorn2021
- 📈Peak valuation$1.5 Billion ’21
- 💔Became a Unitard~2022
- 💸Last valuation~$495M
How it happened
Weave is a Utah-based maker of customer-communication software for small service practices — dental, optometry and veterinary — bundling phone, texting, payments and reviews into one platform. It went public on the NYSE in November 2021 at roughly a $1.5B valuation during the SaaS boom. As software multiples compressed and growth slowed, its shares drifted lower, leaving a market capitalization around $490M — well under the $1B unicorn mark, even as its core business kept growing. Glassdoor reviews traced the culture souring after the founder-CEO stepped down: employees described recurring, often quiet layoffs, pared-back perks, and frequent strategy pivots after the IPO, as its early people-first ethos faded while leadership cited rising profits.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: SEC filings / company financials (customer-communication SaaS for dental, optometry, veterinary and other service practices, backed by Bessemer Venture Partners, Crosslink, Catalyst and Tiger Global; IPO'd on the NYSE in Nov 2021 at roughly a $1.5B valuation; with growth decelerating after the SaaS bubble, its market capitalization has fallen to about $490M)
