The world has, for the past few years, been awash with unicorn creams. The unicorn, that hallowed status when a startup reaches a billion dollar valuation, would seem to be the ambition of nearly every startup founder.
But the technology industry downturn over the past few months has called the unicorn model into question. All those companies that poured incredible amounts of money into growth at all costs, and purposely ignored revenue and profitability, went out on a serious limb — and there is going to be some real pain as many of these companies have their valuations trimmed radically.
But all the while that the Ubers, Boxes and SnapChats were raising their monster rounds, other companies were going along a much more cautious route — raising (comparatively) modest amounts, focusing on revenue acquisition and keeping a close eye on the bottom line.