SPAC startups made lofty promises. They Aren't working out.7 min read . Updated: 26 Feb 2022, 12:16 PM IST
- Hot upstarts that went public via blank-check companies are missing revenue and earnings targets—sometimes months after making those forecasts
A startup battery maker that wooed investors with rapid growth forecasts said it would miss its revenue target by as much as 89%. A scooter rental app is expected to bring in less than 20% of what it projected this year. An electric bus company that planned to boost revenue faster than any U.S. startup ever told investors to disregard its projections.
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