The number of unicorn companies, or privately held companies each worth more than $1 billion, has been conspicuously growing in the past five years. According to folklore, a unicorn is a magical creature that represents purity, cures illnesses, and grants wishes. Even the most optimistic capitalist will probably never find a company that can do all of that. However, the idea that a company can be as appealing to investors as it is rare is more than a myth. A select few privately held companies are so valuable that they have earned the label of a “unicorn,” and there are more of them reaching that status every year. The wave of unicorn companies illustrates a technological evolution in the economy. Read the full Article