Tech "unicorn" exits are actually up

Illustration: Lazaro Gamio / Axios

Despite all the groans about a "unicorn" IPO drought, such companies last year saw a record number of exits in North America and Europe, according to a new report from Pitchbook.

Why it matters: With an increasing number of startups valued at $1 billion or more, and continued availability of late-state private financing, there's been a growing concern over lack of liquidity for investors and early employees.