The Unicorn Club
Unicorns have been the “mythical beast of the moment” for a couple of years now, and their time in the spotlight hasn’t been limited to pop-culture, they’ve taken over the business world too.
Companies like Uber, Amazon, Alibaba, Facebook, Pinterest, Spotify, AirBNB and more recently Canva, are all part of the exclusive “Unicorn Club”, (or were before they went public).
A “unicorn” is a start up business valued at over $1 billion. We have venture capitalist Aileen Lee to thank for the magical description.
It’s a statistical rarity; there were only 223 unicorns as of March 2017. Of course, there are always those that go above and beyond. That’s when we see the emergence of “decacorns”, (unicorns worth over $10 billion) and ‘hectocorns’ (unicorns valued over $100 billion).
There’s no sure-fire way to go out and create a unicorn, but there are a few recurring themes to notice as you scroll down the list of previous and current unicorn businesses…
A unicorn by definition is a start up, and therefore privately owned. While some eventually sell into the public sector, one of the secrets to unicorn success might be staying private.
They all have innovative business models, and are usually the disruptors that shape the business world, such as “collaborative consumption” businesses based on sharing resources - like Uber.
They embrace and take advantage of technological advances, or even just re-shape the way we use technology entirely.
The unicorn club is noticeably made up of four major types of businesses: enterprise software, consumer e-commerce, software-as-a-service, and consumer audience.
If you’re interested to find out more about this exclusive group, or just want a bit of inspiration for pursuing your start-up dreams, you can find a full list of all current unicorns here.
Originally posted by Plant: Grow: Reap.