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Unicorn (finance)
Startup company valued at over $1 billion / From Wikipedia, the free encyclopedia
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In business, a unicorn is a startup company valued at over US$1 billion which is privately owned and not listed on a share market.[1]:ā1270ā[2] The term was first published in 2013, coined by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures.[3][4][5][6]
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Many unicorns saw their valuations fall in 2022 as an result of an economic slowdown caused by the COVID-19 pandemic, an increase in interest rates causing the cost of borrowing to grow,[7] increased market volatility, stricter regulatory scrutiny & underperformance. As a result, many unicorns saw their valuations fall or were acquired by larger companies at lower prices than expected.
CB Insights identified 1,172 unicorns worldwide as of June 2022[update].[8] Unicorns with over $10 billion in valuation have been designated as "decacorn" companies.[9] For private companies valued over $100 billion, the terms "centicorn" and "hectocorn" have been used.[10]