For a startup, selling to another startup isn't the classic exit strategy. However, data shows it is a common path, especially as of late with the rise of deep-pocketed, ultra-high-valuation unicorns. So far this year, more than 500 seed- or venture-backed private companies across the globe have sold to other private, venture-backed companies, per Crunchbase data. The most prolific acquirers include many of the most famous and valuable unicorns, including OpenAI, Databricks and Anthropic. Overall, the pace of dealmaking in 2026 looks relatively flat 1Reported deal counts are down slightly this year from the comparable period, but are likely to even out more over time as some acquisitions, particularly smaller deals, are added to the dataset weeks or months after they close.2 compared to last year. That's not entirely surprising given that overall market conditions haven't changed dramatically. The number of tech startup IPOs remains below normal. Hot venture-backed AI companies are...
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