Ten years later Cowboy Ventures founder Eileen Lee has given her nickname to the unicorn, and she and her team are back with new analysis on private companies valued at more than $1 billion.
A lot has changed in Unicorn Land since 2013, which makes it worthy of the kind of comprehensive summary you can read here. But there is a point worth focusing on: the transition to projects, and what might happen next.
As the number of unicorns rose from 39 to more than 532, Cowboy discovered that their very nature had changed, too. “The pendulum has swung heavily toward enterprise, with 78% of unicorns today focused on B2B, a reversal from 2013,” Lee and her team member Allegra Simon wrote.
But spending more than a decade in technology teaches you something: to be ready for the pendulum to swing again. Hence, Cowboy predicted, “Given the difficult shift towards commercial enterprise, we can hope and expect the birth of more unique consumer companies in the coming years.”