Once upon a time, unicorns were a rare thing. In fact the use of the term ‘unicorn’ in the startup World was meant to convey that rarity. Only a precious few startups get to $1B+ in valuation.
While this is true in relative terms, the absolute number of unicorn startups has never been higher. And the timeframe from inception to unicorn status is compressing. The poster child of this trend is Slack. In the last year it has gone from a $67M valuation to a $2.6B valuation.