1 articles · Updated · The Australian Financial Review · Aug 13
Summary
Bids for a stake in Employment Hero indicate the HR software unicorn has held onto a multibillion-dollar valuation despite the broader tech downturn.
That pricing would bolster Seek, whose Growth Fund is selling down start-up holdings after the company said Tuesday it planned to return capital to shareholders.
Seek is targeting about $1 billion of portfolio sales as its own shares have fallen 41% so far this year.
The signal stands out against the "SaaSpocalypse" that has cut valuations across publicly listed software and technology companies.
Will Seek's massive billion-dollar startup sell-off be enough to rescue its own plummeting stock value in today's volatile market?
How does an HR startup maintain a multibillion-dollar valuation while public tech stocks crash and mid-market customers complain about its limitations?
Can AI-driven HR platforms justify their unicorn status if they fundamentally struggle to scale alongside the businesses they serve?