Describe what a Unicorn is!
Start-up company with a value over $1 bn
First popularized by Aileen Lee (Founder of CowboyVC)
1204 companies currently valuated at 1$ bn or more
46 German unicorns:
About You
FlixBus
N26
Celonis
Auto1 Group
…
49% of Unicorns are in the US
Average Age of Unicorn is 7 years
-> Decacorn Status: over $ 10 bn valuation (only 4% of unicorns)
What are implications/Hypotheses of the Study on Unicorns by Bock/Hackober?
Hypotheses:
What are critical Aspects for Unicorns?
Ability to handle growth
need to have right governance system
have processes to manage transition from startup to unicorn
Low interest rates lead to high valuation of startups!
What are possible areas for Unicorns?
Fintechs
Internet software and service
e commerce
AI
Life science
Mobile telecommunication
-> together 57%
What are trends that can be observed for unicorns?
Unicorn club continues to grow!
The number of new Unicorns took a nosedive in Q3’22!
-> probably higher interest rates
IPO valuations often don’t match the market caps
What are characteristics of founders team in terms of skillset and work experience?
Describe the Unicorn Bubble!
low interest rates result in much money in the market which drives the valuation of startups
IPOs reveal the valuation from the market which is lower than the ones from VCs
Is it a bubble?:
It isn’t that much of a bubble that will burst
rather a form of valuation correction since unsuccessful IPOs result in lower valuation for future startups and less investments.
Private Equity will opt for even riskier investments to realize the required returns
Last changeda year ago
