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This report focuses on companies in the internet age that have received venture capital funding. The majority of the companies included in the analysis are tech-driven and operate in industries such as software, ecommerce, online marketplaces, hardware, and ICT infrastructure. The report excludes debt or other non-equity funding, lending capital, grants, and ICOs. Buyouts, M&A, secondary rounds, and IPOs are treated as exits. The report defines a unicorn as a rapidly scaling company that has reached a $1 billion valuation, and a future unicorn as a tech-driven company valued at over $250 million but less than $1 billion, excluding acquired and/or public companies. The report uses the US dollar as the currency for valuations and unicorn analysis.