Startup Lingo: Unicorn
Published: May 26, 2022
BLOG – First coined by Venture Capitalist Aileen Lee, the term Unicorn refers to a privately-owned startup company that is valued at at least USD 1 Billion. Lee first wrote about Unicorns in her 2013 article “Welcome to the Unicorn Club: Learning from Billion-Dollar Startups” where she notes that startups valued at USD 1 Billion are so rare that it might as well be as difficult as discovering a mythical creature.
Tech giants Google and Facebook are considered Super-Unicorns for valuing more than USD 100 Billion. As of March 2022, Investopedia notes that there are only about 1000 Unicorn startups around the world. Currently, the Philippines only has one startup with Unicorn status – Mynt’s GCash.