Tuesday, April 28, 2015

What Does it Take to Get to a Billion Dollars?

There’s a term that’s becoming commonplace in the business community. The term is “unicorn” and it’s used to describe startups that are still privately held and are valued at over a billion dollars. Now, this doesn’t mean they have a billion dollars in revenue, or that anyone is willing to pay one billion dollars for them today. This is strictly reserved for the valuation that venture capitalists have given them for the purposes of investments.

So, let’s examine a few of these unicorns and identify some of the factors that contributed to their sky-high valuations….

Domo
I can literally see the Domo world headquarters out the window of my office, so I know quite a bit about this company. And one thing they’re great at is building hype and building a sales team. Josh James kept the seal on Domo for almost 5 years by getting their customers to sign NDAs to even get a chance to see their products (that’s a very rare thing).

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