The Unicorn Club, 2015 – Learning From Billion-Dollar Companies
As we wrote in our original post – many entrepreneurs, and the venture investors who back them, seek to build big, impactful companies valued at a billion dollars or more. We called these companies “unicorns” because what they had achieved seemed very difficult, rare, and relatively unstudied. That billion-dollar threshold is important, because historically, top venture funds have driven returns from their ownership in just a few companies that grow to be super-successful. And as most traditional funds have grown in size, they require larger “exits” to deliver acceptable returns (Cowboy Ventures is different – we’re small by design, although…