Let’s First Agree Definitions

The article on CB Insights tells us that …

Collectively, US unicorns are worth approximately $360B.

That sentence is wrong, misleading and can cost you money if you aren’t careful.

Collectively, US unicorns are valued approximately $360B.


an indefinite quantity of something having a specified value, eg “10 dollars worth of gasoline”


1] the amount (of money or goods or services) that is considered to be a fair equivalent for something else
2] an ideal accepted by some individual or group

Very specifically Unicorns are valued by a very small tight group of people who are prepared to spend their money in a certain way. And since no one likes a down round – each round gets higher.

Like I have written beforeremember when Dropbox was the world’s 5th most valuable start up … halcyon days.

FInal link – this goes back a ways … and is a nice explanation of why the private markets are not at all the same as the public markets. If they are – Beyond Bridges is for sale and we are worth $100 million.