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Unicorn – Magical, Mythical, and a Billion Dollars? Is There a Better Word?

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“Unicorn” is a term in Silicon Valley to describe a company whose net worth has exceeded one billion dollars. Meant to encompass the mystery and excitement of such an explosive venture, Aileen Lee of Cowboy Ventures developed the term to describe firms like Uber and Airbnb which at one time looked like long shots but are now valued in excess of a billion dollars. But with 117 so-called “Unicorns” in the past decade, those firms may actually not be as rare as perceived.

In a social sphere already filled with so much nonsensical jargon, is Silicon Valley simply making buzz words for fun? Probably. But for those who work with startups, interacting with a unicorn is rare enough to merit the title, as fewer than 1% of venture-backed firms end up with the label. So what do you think – is a company valued at billion dollars worth calling a unicorn or is Silicon Valley just clinging onto yet another buzzword?

Read the full article in the New York Times here.