Silicon Valley billionaires-in-waiting may face reckoning amid stock panic

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).