Altss Research / Venture case 32
Solyndra
Solyndra suspended manufacturing and dismissed most of its workforce in August 2011, then filed for Chapter 11 protection in September. The solar manufacturer had previously reached a billion-dollar private post-money benchmark.
Altss Research · Evidence reviewed · Historical event record
Historical private valuation
$1.5bnGornall and Strebulaev’s NBER Working Paper 23895, Table 7, lists Solyndra’s August 2009 financing at $1.5 billion post-money. The table separately estimates fair value; that is not the benchmark used here.
Shutdown
No sale priceManufacturing suspended; most workers dismissed. The chief financial officer’s sworn first-day declaration, paragraph 28, states that Solyndra suspended manufacturing and terminated most of its workforce on August 31, 2011. Key employees remained to explore restructuring options.
These figures have different valuation bases and dates. Their difference is not a measure of investor losses. Methodology ↗
The documented timeline
Private financing benchmark recorded
The original research table identifies the financing month and post-money measure used in this case.
Manufacturing suspended
The CFO attributed the suspension and termination of most employees to failure of expected bridge financing.
Chapter 11 petition filed
The CFO’s declaration records September 6 as the petition date for the company and its parent.
Source documents
Publication and access dates identify the evidence used for this case.
William Gornall and Ilya A. Strebulaev / NBER · Primary source · Published Oct 2017 · Accessed Oct 26, 2026
Solyndra / U.S. Bankruptcy Court filing (hosted by San Francisco Business Times) · Primary source · Published Sep 2011 · Accessed Oct 26, 2026
Logo: Solyndra logo source, Hydrargyrum (SVG conversion/upload); original logo author not identified by source · Free Art License. Original file; no edits.
