<ul><li>Over 60% of unicorns that hit $1B+ valuations in 2020-2021 have not raised funding since 2021 and likely never achieved the scale to do so, or have seen growth slow.</li><li>Out of the original 616 unicorns, 374 have not raised any subsequent rounds, 83 have raised a flat or up round, 67 have raised a down round, 78 have exited through IPO or M&A, and 14 have shut down.</li><li>Many of the unicorns at $100m+ ARR have experienced slow growth, but are still cash-flow positive with low burn rates.</li><li>In order to have value, companies should focus on reaching $100m+ ARR with at least some growth, 100% net revenue retention, and no burn.</li></ul>

Where Are The 2021 Unicorns Today? 60% Are Stuck In Limbo, Per Carta

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