This Week in Startups Next Unicorns evaluation + Ask Jason | E1590
Oct 20, 2022
In a fresh format, the host evaluates the journeys of past unicorn startups, highlighting their successes and failures against the backdrop of a shifting fundraising landscape. Topics include the growth of innovative background check services for the gig economy and affordable communication solutions for startups. The conversation also touches on the complexities of cybersecurity in corporate acquisitions and the evolving role of CEOs in today's market. Listener questions lead to insights on founder qualities and notable acquisitions, enriching the discussion.
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Rise of Unicorns
- Unicorns, once rare, are now commonplace due to global internet access, mobile technology, and new payment rails.
- This allows companies to rapidly become global and reach billion-dollar valuations, often with $50-150M in revenue and a path to profitability.
Checkr's Unicorn Journey
- Checkr, featured on the podcast, achieved unicorn status after raising a Series D at $2.2B valuation.
- They later raised a Series E at $4.6B, likely inflated due to the 2021 market peak.
OpenPhone's Self-Serve Model
- OpenPhone's success is partially due to its self-serve model.
- This minimizes reliance on sales teams, allowing for lower pricing and strong word-of-mouth growth.