‘Unicorn’ price tags aren’t all they’re cracked up to be

A $1 billion valuation was until recently a significant badge of honor for a tech company, marking it as an unusually successful outlier. Now, though, as membership of the club has swollen to as many as 200 globally, the “unicorn” epithet given to these billion-dollar companies on account of their rarity has become less apt and attracted considerable skepticism as to whether they can justify their sky-high price tags....