How do you build a company that brings in more than a billion dollars?
There are many factors that can contribute to the creation of a “unicorn.” A hardworking team, supportive investors and mentors, identifying an untapped corner of the market and a keen understanding of what your customer base wants can contribute to future success at this high level.
Sage, a company that makes cloud accounting software for small businesses, released a study exploring the commonalities between the founders that get to this major business milestone.
Read on for some of the research’s most intriguing findings.
Related: Want to Join the ‘Unicorn Club’? Here’s What 3 Companies Did to Get There.
1. Ninety-four percent of the unicorn founders are men. Six percent are women.
2. Stanford, Harvard and University of California are the top three alma maters of unicorn founders.
3. California is home to the most unicorn companies. New York has the second highest and the third jumps overseas to Beijing.
4. In Europe, London is the city with the most billion-dollar companies. Berlin is number two and Stockholm three.
5. Sixty-seven percent of the companies were launched by co-founders.
6. Thirty-seven percent were started by…