Unicorn

A privately held startup valued at one billion dollars or more. Coined by Aileen Lee in 2013, when such companies were rare, hence the mythical name.

Why it matters

Unicorn status became shorthand for startup success and a fundraising milestone, though a high private valuation is not the same as a durable business. Chasing the label over real value has burned plenty of companies.

For example

When a startup's private valuation crosses one billion dollars, it earns the 'unicorn' label, once rare, now a common fundraising milestone.

Worth your time

Can you build a unicorn business outside the Silicon Valley? elizabethyin.com · article A working seed investor answers plainly whether you can build a huge company away from Silicon Valley, and where the real tradeoffs sit. It is honest about what distance costs you (some networks) and what it saves you (runway, focus, less noise). Read it to plan around the gaps instead of pretending they are not there. Open elizabethyin.com →

Related terms

Go deeper

See how founders actually handle this on Growing and marketing, part of the Starting Up hub.

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