Once a mythical creature in literature, a Unicorn is now a venture capital term for startup tech firms with valuations of US$1 billion or more. These valuations seem mythical; however, a whole herd of unicorns, 145, at last, count, has emerged in 2015.
The unicorn herd is made up of disruptive startups entry into stale sectors and fed by dynamic technology adoption like smartphones, big data, and cloud computing. Soaring Series A round valuations and fundraising momentum have some predicting a bubble soon to burst. However, unlike the dotcom bubble, these startups have stronger business models, a leaner mindset, and revenues that are are ten times higher.