Coined in 2013 by Aileen Lee, unicorn company is a term used to describe a startup company having a net value of over $1 billion. A unicorn company, also referred to as a unicorn, is privately held.
Note: A unicorn with a valuation over $10 billion is referred to as a decacorn. A unicorn with a valuation over $100 billion is referred to as a hectocorn.
In 2013, when the "unicorn" term was first used, there were 39 companies that could be referred to as unicorns. By March 2018, the number of unicorns increased to 279, with Uber being the most valuable unicorn at $69 billion.