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unicorn

An interesting article on TechCrunch, written by the folks at Cowboy Ventures – they put together a in-depth profile of startups that are now valued at $1B or more, referring to these mythical creatures as “Unicorns”.

Below are some highlights I found interesting.  Be sure to check out the rest of the article here.

Fun Unicorn Facts:

  • There are currently 39 Unicorns
  • Only 0.7% of venture backed companies (from ’03-’10) have grown up to be Unicorns
  • On average four Unicorns were born per year from 2003 -2010
  • It has taken seven plus years on average for these Unicorns to reach a liquidity event and a third of Unicorns are still private
  • There are more consumer oriented Unicorns than enterprise oriented Unicorns
  • BUT enterprise Unicorns have delivered more value per private dollar invested (26x total capital raised vs. 11x for consumer)
  • Average age of a Unicorn founder is 34 and there were on average three co-founders at each Unicorn
  • 90% of founding teams either worked together previously or went to school together
  • 80% of Unicorns had at least one co-founder who had previously founded a company
  • Few companies are the result of a successful pivot; ~90% of companies are still working on their original product vision

unicorn-graph1cunicorn-graph2c

Great list of quotes from Henry Ford.  Go check out the full article 21 Quotes From Henry Ford On Business, Leadership And Life over at Forbes.

  • There is one rule for the industrialist and that is: make the best quality goods possible at the lowest cost possible, paying the highest wages possible.
  • Coming together is a beginning; keeping together is progress; working together is success.
  • Don’t find fault, find a remedy.
  • Failure is simply the opportunity to begin again, this time more intelligently.
  • Whether you think you can, or you think you can’t – you’re right.
  • Anyone who stops learning is old, whether at twenty or eighty.  Anyone who keeps learning stays young.
  • Employers only handle the money – it is the customer who pays the wages.
  • Thinking is the hardest work there is, which is probably the reason so few engage in it.
  • The only real mistake is the one from which we learn nothing.
  • If I had asked people what they wanted, they would have said ‘faster horses.’
  • You can’t build a reputation on what you are going to do.
  • If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.
  • Enthusiasm is the yeast that makes your hopes shine to the stars.
  • Vision without execution is just hallucination.
  • There is no man living who isn’t capable of doing more than he thinks he can do.
  • A business that makes nothing but money is a poor business.
  • I cannot discover that anyone knows enough to say what is and what is definitely not possible.
  • A business absolutely devoted to service will have only one worry about profits.  They will be embarrassingly large.
  • You don’t have to hold a position in order to be a leader.
  • Quality means doing it right when no one is looking.
  • To do more for the world than the world does for you – that is success.

high-tech-startup-density-map

Top 10 Metro Areas for High-Tech Startup Density:

  1. Boulder, Colo.
  2. Fort Collins-Loveland, Colo.
  3. San Jose-Sunnyvale-Santa Clara, Calif.
  4. Cambridge-Newton-Framingham, Mass.
  5. Seattle, Wash.
  6. Denver, Colo.
  7. San Francisco, Calif.
  8. Washington-Arlington-Alexandria, DC-Va.-Md.
  9. Colorado Springs, Colo.
  10. Cheyenne, Wyo.

The full Kauffman Foundation report can be found here.  Originally found via Quartz.