Trampled Underfoot by a Stampede of Unicorns
The valuations behind a string of planned IPOs could drain life from stock indexes.
New launch: SpaceX is planning an IPO this year.
Photographer: Timothy A. Clary/AFP/Getty
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Brace for a thundering herd of unicorns. Since the term (for private companies worth more than a billion dollars) was coined in 2013, unicorns have gone forth and multiplied. A trawl of databases by BestBrokers finds that there are now 1,727 globally, with their numbers swelling by 70 in the first quarter of this year.