Intelligence

Young startups are struggling as the tech industry celebrates another record-breaking quarter

It has been yet another record-breaking quarter for the tech industry.

Valuations for venture-backed companies doubled over last year to an average of $100 million, the highest in more than a decade, according to Pitchbook, a private financial-market data provider. Total venture dollars invested are on track to hit $74 billion in 2016, second only to 2015 over the past decade. And venture capitalists are basking in their best year since at least 2006, expected to end the year with $32.4 billion after raising $9 billion in the third quarter.

Source: Quartz

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