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31#Q1VC ©2016 KPMG International Cooperative Venture Pulse Q1’16

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31#Q1VC
©2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG
network of independent firms are affiliated with KPMG International. KPMG International provides no client
services. No member firm has any authority to obligate or bind KPMG International or any other member
firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any
member firm. All rights reserved.
“Over the next 6 to 9 months, there will
likely be a shakeout amongst Unicorns.
Those that can demonstrate revenue
growth, positive gross margins, expense
control and a path to profitability….may
take a slight hit in valuation, but are
likely to be the winners down the road.”
Brian Hughes
Co-Leader, KPMG Enterprise
Innovative Startups Network, and
National Co-Lead Partner, KPMG
Venture Capital Practice,
KPMG in the US

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