Consumer tech is bound for a comeback among unicorns, but maybe not just yetTen years after Cowboy Ventures’ founder Aileen Lee gave unicorns their nickname, she and her team are back with fresh analysis on private companies worth more than $1 billion.
As the number of unicorns boomed from 39 to more than 532, Cowboy found that their very nature also changed.
“The pendulum swung hard to enterprise, with 78% of unicorns today focused on B2B, the inverse of 2013,” Lee and her team member Allegra Simon wrote.
But spending more than a decade in tech teaches you something: to be ready for the pendulum to swing back.
Hence Cowboy’s prediction that “given the hard shift to enterprise,” we can “hope and expect more exciting consumer unicorns will be born in coming years.”
A slew of consumer tech and companies focused on consumer packaged goods (CPG) have gobbled up venture capital in the past year.
Keychain, Harmonya, Highlight, Ramani, SupplyPike, Vividly and Turing Labs, just to name a few, captured investor attention for their technologies.
That’s because consumers’ tastes constantly change, grocery shelf space is finite and e-commerce takes finesse to cut through the noise.
But why are investors so interested in consumer tech and CPG as an opportunity now?
Oreo is going to need to know whether Oreo A or Oreo B tastes better, and that’s not something that generative AI can spit out.
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