As unicorns grow rarer, maybe it’s time to look towards revenue, not valuations

Startups that were deemed worthy of a $1 billion valuation while still private were once so unusual, they seemed almost mythical — hence the “unicorn” moniker they were awarded. But when the COVID pandemic started waning, venture capitalists started letting out all their pent-up energy and capital and unicorns might as well have grown two horns, because they became as common as oxen.
We’re unsure if this is good news or not, but new data from Crunchbase indicates that unicorns are once again a rare occurrence.
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