This study demonstrates that web-search traffic information, in particular, Google Trends data, is a credible novel source of high-quality and easy-to-access data for analyzing technology-based new ventures (TBNVs) growth trajectories. Utilizing the diverse sample of 241 US-based TBNVs, we comparatively analyze the relationship between companies’ evolution curves represented by search activity on the one hand and by valuations achieved through rounds of venture investments on another. The results suggest that TBNV's growth dynamics are positively and strongly correlated with its web search traffic across the sample. This correlation is more robust when a company is a) more successful (in terms of valuation achieved) – especially if it is a “unicorn”; b) consumer-oriented (i.e., b2c); and 3) develops products in the form of a digital platform. Further analysis based on fuzzy-set Qualitative Comparative Analysis (fsQCA) shows that for the most successful companies (“unicorns”) and consumer-oriented digital platforms (i.e., b2c digital platform companies) proposed approach may be extremely reliable, while for other high-growth TBNVs it is useful for analyzing their growth dynamics, albeit to a more limited degree. The proposed methodological approach opens a wide range of possibilities for analyzing, researching and predicting the growth of recently formed growth-oriented companies, in practice and academia.

这项研究表明，网络搜索流量信息（尤其是Google趋势数据）是用于分析基于技术的新企业（TBNV）增长轨迹的高质量且易于访问的可靠数据来源。利用241个美国TBNV的多样化样本，我们比较地分析了一方面由搜索活动代表的公司演化曲线与另一方面由几轮风险投资获得的估值之间的关系。结果表明，在样本中，TBNV的增长动态与其网络搜索流量呈正相关且强烈相关。如果公司是a）更成功（就实现的估值而言），尤其是如果它是“独角兽”，则这种关联性会更强健。b）面向消费者（即，b2c）；3）以数字平台的形式开发产品。基于模糊集定性比较分析（fsQCA）的进一步分析表明，对于最成功的公司（“独角兽”）和面向消费者的数字平台（即b2c数字平台公司），建议的方法可能非常可靠，而对于其他高级公司-增长型TBNV，尽管程度有限，但对于分析其增长动态很有用。所提出的方法论方法为在实践中和学术界分析，研究和预测新成立的以增长为导向的公司的发展提供了广泛的可能性。对于其他高增长的TBNV，尽管程度有限，但对于分析其增长动态很有用。所提出的方法论方法为在实践中和学术界分析，研究和预测新成立的以增长为导向的公司的发展提供了广泛的可能性。对于其他高增长的TBNV，尽管程度有限，但对于分析其增长动态很有用。所提出的方法论方法为在实践中和学术界分析，研究和预测新成立的以增长为导向的公司的发展提供了广泛的可能性。