Nov 18, 2017

Software startups raise billions behind closed doors

Courtesy Barron's

"When a venture capitalist coined the concept 'unicorn club' in 2013, it referred to software start-ups valued at $1 billion or more — just 39 at that time. ... Today, Dow Jones VentureSource tracks 170 unicorns," Barron's writes in its cover story:

  • "[T]he unicorns have preferred to raise funds behind closed doors. Just 32 have gone through with initial public offerings ... Large companies like Uber Technologies, Dropbox, Lyft, Spotify, and Airbnb have so far spurned the public market.
  • "As the private companies become household names, they face questions about their workplace cultures, business models — and valuations.
  • Why it matters: "The unicorn experience is teaching us an unexpected lesson: The public markets remain the best place to achieve long-term corporate success."
  • Positive impact of scrutiny and disclosure: "For some unicorns, public disclosures leading up to the IPO have revealed underlying business issues — problems that had been hidden away."

Go deeper

Sanders to Putin: You won't interfere in any more elections if I'm president

Photo: Scott Olson/Getty Images.

Sen. Bernie Sanders sent a message to Russian President Vladimir Putin on the debate stage Tuesday, stating, "If I'm president of the United States, trust me, you're not going to interfere in any more American elections."

The big picture: It was unveiled last week that Russia has been interfering to boost Sanders' campaigns in an apparent attempt to strengthen President Trump's bid for reelection. Former New York Mayor Michael Bloomberg said that "Vladimir Putin thinks that Donald Trump should be president of the United States, and that's why Russia is helping [Sanders] get elected.

Debate night: Candidates' last face-off before Super Tuesday

Sanders, Biden, Klobuchar and Steyer in South Carolina on Feb. 25. Photo: Jim Watson/AFP via Getty Images

Sen. Bernie Sanders wants to keep his momentum after winning New Hampshire and Nevada, while former Vice President Joe Biden hopes to keep his own campaign alive. The other five candidates are just trying to hang on.

What's happening: Seven contenders for the Democratic presidential nomination are in Charleston, South Carolina, for the tenth debate, just days before the South Carolina primary and a week before Super Tuesday.

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