Startups and investors are finding there's a huge price to pay for that coveted US$1 billion valuation
Sat, Nov 07, 2015 - 5:50 AM
SAFEGUARDS: A law firm's study in May showed that approximately 30% of unicorn investors had negotiated protections against a so-called down-round IPO - a situation in which the results of an offering indicated a lower valuation than the latest round of private funding had.
IN THE world of Wall Street, where numbers are everything, one number is especially coveted: one billion. Technology startups that achieve US$1 billion in valuation before going public - so-called unicorns - can attract the attention of prominent venture capital firms and draw...