Valuation of over $1 billion of the company so much! nternet bubble

Abstract: once scarce, may now be sufficient: the microprocessor is so, broadband is the case, the valuation of 1 billion + companies, and so on. A large group of Unicorn companies is a natural choice, the result of full health, we are in a productive environment.


writer Reed · Hoffman (Reid Hoffman) is LinkedIn (collar British) co-founder and executive chairman, the famous venture capital firm Graylock partners, one of Silicon Valley’s most famous venture capitalists, known as the "king of Silicon Valley network". He had created the world’s first social network, PayPal served as a member of the board of directors and senior vice president, more than and 160 start-up companies invested in Facebook, Zynga, Airbnb, Flickr, Mozilla, etc..


in the venture capital industry, select the winner is actually a failed investment strategy. Our goal should be to find those heavy bomb, those from the start-up period in the garage with a small team to work hard to scale as IPO market value of billions of dollars in the company. Time can prove that these help investors A new force suddenly rises. earned hundreds of thousands of times the return on investment. As a result, the best managers will focus on those who have the opportunity to grow to the size of the company.

time also proved that such a company is extremely rare. In order to give an intuitive concept of rarity, focus on the seed round of investment capital (Cowboy Venture) cowboy founder Aileen Lee in an article she wrote to TechCrunch in 2013 first proposed the concept of "unicorn".

Study of

Lee, obtained from 2003 to 2013 ten years of venture capital financing more than 6 U.S. software and Internet industry companies, only 39 companies listed or unlisted valuation reached $1 billion or more. Lee is a member of the Unicorn club. The vivid new word soon became popular.

for the past one or two years, however, the unicorn suddenly seemed to be everywhere. Fortune has released a list of Unicorn companies on the Internet, and now the list of Unicorns listed in the world has more than one hundred. The total number of Unicorns in the world is more than 120, according to data firm CB Insights.

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and the unicorn company is the company in the future vision of the doubt. "Once the $one billion high-tech start-up is a mystery, it is now being invested in the bull market and the so-called new generation of destructive creation