My 8-year-old daughter is certainly a lover of unicorns but even she questions their existence. In a business sense, a “unicorn” is a privately held startup company valued at over $1 billion which has experienced hyper-growth in a new or evolving market. Venture capitalists coined the phrase to express the rarity of these companies. The venture capital investment model is built around the premise of investing in a bunch of companies, one of which they hope will be a unicorn and will go on to reap a large return for investors, making up for the vast majority of their investments…

This story continues at The Next Web