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After seeing 4-8 CEOs a day during the internet bubble, I can share what I saw in the guys that where Unicorns! Do you have the basic to be a unicorn or even something close? Let us talk as I have picked a few unicorns and also been dead wrong (I now know why?).
When will unicorns need to raise next?
In order to answer the above question, we applied the overall median time between rounds to the date of unicorns’ last financing round. The graphic below helps illustrate our estimate for when most unicorns will need to raise next:
- 15 will likely need to raise sometime in Q2’16.
- 40+ US unicorns will likely need to raise funding in the final 6 months of 2016
It’s this traffic jam in the latter half of 2016 when the proverbial “poop might hit the apparatus with rotating blades”. These companies will either need to
- raise from private markets
- test the inhospitable public markets for an IPO
- find an acquirer
On option #3, it is worth remembering that acquirers have been slowing activity of late and many of these unicorns have priced themselves so high that a logical buyer doesn’t really exist. Of course, if the market has forced them to see reality and their valuations reset, perhaps there will be buyers?
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