Unicorn

1.

A 'unicorn' is a privately owned company valued at US$1 billion or more.

Examples include Uber (on-demand taxicab and delivery services) and Airbnb (e-commerce / marketplace).

2.

The term 'unicorn' is also used more narrowly to refer to early stage technology companies with valuations of US$1 billion or more, also known as 'tech unicorns'.

Spotify raises $1bn

"Swedish music streaming company Spotify attracted plaudits from the judges for its approach to managing growth.

During the first half of 2016 [Spotify] closed one of the largest convertibles ever for a tech unicorn, securing a $1bn financing, to support Spotify's growth programme."

The Treasurer magazine, February 2017 p32 - Deals of the Year.

See also

• Black swan
• Convertible bonds
• e-commerce
• Gig economy
• Private equity
• Tech unicorn
• Venture capital