General Atlantic CEO sees tech values shift amid Square IPO

Dubai

MOST of the technology companies worth billions of dollars based on private fundraising rounds are unlikely to live up to those valuations, according to Bill Ford, chief executive officer of General Atlantic LLC, the US private equity firm which was an early investor in Facebook Inc and Uber Technologies Inc.

The rush from private investors seeking stakes in closely held startups before initial public offerings has pushed valuations too high, Mr Ford said in an interview. Some are reassessing the price of such firms after mobile payment company Square Inc was valued at less in its IPO than in an August 2014 round of private funding, he said.