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7 Startups Joined the 'Unicorn Club' in Second Quarter

You'll need more than one hand to count the number of billion dollar startups minted in Q2. The last quarter saw seven companies enter the category, according to the Venture Pulse report released Tuesday by research firm CB Insights and auditing firm KPMG.

Versus Q1, that's two more startups crossing the (somewhat arbitrary) valuation threshold and joining the club of so-called "unicorns," a term Cowboy Ventures founder Aileen Lee coined in 2013 for startups worth at least $1 billion.  

The Venture Pulse report notes that the second quarter increase does not push 2016 anywhere near last year's rate of unicorn births. In 2015, 79 startups became unicorns, 24 of them reaching the valuation in the second quarter. The first half of this year has seen only 12.

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