Why HoneyBook’s $140M in ARR may finally justify its $2.4B ZIRP-era valuation

HoneyBook, a startup last valued in late 2021 at $2.4 billion, told TechCrunch that it hit $140 million annualized recurring revenue (ARR). This makes HoneyBook one of the few startups with peak-VC-era valuations to report their financials after the market cooled. Many startups that raised in 2021 and not since remain under pressure to generate the revenue needed to validate their previously inflated valuations, and many not survive much longer. But HoneyBook is doing so well, it sees no reason to still keep its revenue metrics secret, says HoneyBook CEO and co-founder, Oz Alon. HoneyBook offers business management software for independent service-based entrepreneurs such as photographers, event planners, and interior designers. Its last raise was a $155 million Series E from Tiger Global Management about three and a half years ago. Given that HoneyBook is still valued at $2.4 billion, the latest ARR figure implies a valuation multiple of about 17 times ARR. While there are no ha ... Read full article.