SaaS valuation correction (2021-2023)
Software companies raised at record valuations in 2021-2022 as pandemic-era demand boosted growth. As customers cut spending and growth slowed, valuations collapsed. Miro's drop from $17.5 billion to $1.355 billion is one of the most dramatic examples.
Many SaaS companies cut staff and refocused on profitability.
The correction reset expectations for software valuations across the industry.
Miro's acquisition price reflects this broader correction, and the deal may signal that more distressed SaaS acquisitions are coming.
