What’s Feeding the Unicorns?

When venture funder and journalist Aileen Lee coined the term “unicorn” in late 2013 to describe the $1 billion startup, it was a fitting description—there were only 39 in existence. Now, though, we may need a new phrase to describe the phenomenon. In little over a year, the number of unicorns has more than doubled to 80. Valuations have soared through …