What is a Unicorn Company?

A unicorn is a startup company with a value of over $1 billion.

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The term was coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures. Decacorn is a word used for those companies over $10 billion, while hectocorn is used for such a company valued over $100 billion.

According to CB Insights, there are over 450 unicorns as of October 2020. The largest unicorns included ByteDance, DiDi, Stripe, SpaceX, Palantir Technologies and Airbnb. Lyft is the most recent decacorn that turned into a public company on March 29, 2019.

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