The origin of the term "unicorn" in the context of startups can be traced back to the early 2010s. The term was coined by venture capitalist Aileen Lee, founder of Cowboy Ventures, in a TechCrunch article titled "Welcome To The Unicorn Club: Learning From Billion-Dollar Startups." It quickly gained popularity and became widely used in the entrepreneurial and investment communities.
The choice of the term "unicorn" was symbolic and reflected the rarity and mythical nature of such startups. In folklore, unicorns are legendary creatures that are often depicted as a horse-like animal with a single horn protruding from their forehead and they are known for their uniqueness and elusiveness. In the startup world, the term conveys the exceptional rarity, magical potential, and disruptive nature of these highly successful companies. Unicorn startups are considered exceptional because they achieve extraordinary valuations of over $1 billion.
The concept behind the term "unicorn" is to highlight the remarkable success and rapid growth of these startups. Just as unicorns captivate the imagination with their majestic presence, unicorn startups capture the attention of investors and industry observers with their exceptional potential.
The use of "unicorn" as a metaphor for highly successful startups also signifies the magical and transformative nature of their impact. These companies disrupt industries, introduce innovative technologies, and often redefine traditional business models. Their exponential growth and ability to revolutionize markets make them stand out from the crowd. Companies like Slack, Uber, Airbnb, and SpaceX are among the well-known examples of unicorn startups that have achieved tremendous success and market dominance.
According to CB Insights, as of June 2023, there are more than 1200 unicorns worldwide.
The concept behind the term "unicorn" is to highlight the remarkable success and rapid growth of these startups. Just as unicorns captivate the imagination with their majestic presence, unicorn startups capture the attention of investors and industry observers with their exceptional potential.
The use of "unicorn" as a metaphor for highly successful startups also signifies the magical and transformative nature of their impact. These companies disrupt industries, introduce innovative technologies, and often redefine traditional business models. Their exponential growth and ability to revolutionize markets make them stand out from the crowd. Companies like Slack, Uber, Airbnb, and SpaceX are among the well-known examples of unicorn startups that have achieved tremendous success and market dominance.
According to CB Insights, as of June 2023, there are more than 1200 unicorns worldwide.