So-called unicorns are private companies valued at more than $1bn.
In 2015, the FT reported that tech companies are raising private money through financing rounds rather than IPOs. For exampe, companies Uber, Snapchat and Pinterest all revealed large new rounds of private funding.
Seven weeks into 2015, late-stage tech companies had already raised $16bn, according to PrivCo, a research group. Crunchbase, another data group, estimates that the overall funding provided by venture capital to tech companies reached $66.5bn in 2014.