A unicorn company is a privately held startup company valued at over $1 billion). The term was first coined by venture capitalist Aileen Lee in 2013). Unicorn companies are considered rare and are a statistical rarity). As of August 2021, there were more than 803 unicorns worldwide, with ByteDance, SpaceX, and Stripe among the largest). In March 2022, there were over 1,000 unicorn companies around the world. The surge of unicorns was reported as "meteoric" for 2021, with $71 billion invested in 340 new companies, a banner year for startups and for the US venture capital industry).

Some characteristics of unicorn companies include:

• Valuation: A unicorn company has a valuation of over $1 billion).
• Innovation: Unicorn companies are typically innovative or disruptive companies that are expected to grow quickly.
• Industry: Unicorn companies exist in a variety of industries, including fintech, fashion, food, health, biotech, transportation, and enterprise software.
• Growth: In order to become a unicorn, companies must have an innovative idea, a clear vision for growth, and a solid business plan, as well as a viable way to get their message to venture capitalists and private investors.

Unicorn companies are considered rare and difficult to find. Some popular unicorn companies include SpaceX, Robinhood, and Instacart.