HSBC cuts ecommerce unicorn ElasticRun's valuation to $800 million

HSBC has marked down its valuation estimate for B2B ecommerce platform ElasticRun to $800 million. The Economic Times reported the development citing the brokerage’s research note dated May 21. This cut pegs the SoftBank-backed unicorn at nearly half of the $1.5 billion valuation at which it raised $300 million during its last funding round in 2022.