Navan finished its first day trading at an approximate valuation of $4.7 billion, which is about half of its last private valuation of $9.2 billion. techcrunch.com/2025/10/30/na…
Oct 30, 2025 · 9:45 PM UTC
The market is demanding sustainable unit economics—in B2B (like Navan) and B2C.
The old B2C model (burning cash on sky-high CAC to get free user data) is fundamentally broken.
UpSpends is building the truly sustainable model: a new foundation for digital commerce where brands and consumers share the value. This is the rebalance.
