Silicon Valley billionaires-in-waiting may face reckoning amid stock panic
by Sam Thielman in New York from Technology | The Guardian on (#JD4H)
Venture capitalists and market analysts warn that Chinese ripple effect could force tech startup 'unicorns' to settle for buyouts instead of going public
Silicon Valley startups basking in billion-dollar valuations may face a long-overdue reckoning as a result of the global panic set off by roiling Chinese markets, investors and analysts have warned.
The number of technology companies with so-called "unicorn" designations of $1bn or more reached at least 131 on Monday, as healthcare websites, big-data firms and even Buzzfeed joined the kings of a new digital economy like Uber ($51bn) and Fitbit ($3.7bn).
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