As a key goal, entrepreneurs would love to become unicorns. Why? According to the Corporate Finance Institute: “Unicorn” is a term that describes a privately-owned startup with a valuation of over $1 billion. The term was introduced by venture capital investor Aileen Lee in 2013. It describes rare tech startups valued at more than $1 billion. In this post, we consider the characteristics of unicorns.
For a few other posts related to entrepreneurship, click here:
- Freebies for Startups and Small Businesses
- How to Use Growth Marketing
- Creating a Business Plan
- Can You Afford to Become an Entrepreneur?
An Infographic Look at the Characteristics of Unicorns
Through a detailed discussion, Embroker (a B2B insurance firm) offers excellent insights on unicorns. For instance:
“It takes a brave and talented team to establish a company these days, especially when the failure rate of U.S. companies after five years is over 50%. And over 70% after the ten-year mark. However, an elite group of startups has successfully navigated the challenges of the venture world. As a result, they are now billion-dollar firm. Or as we like to call them, unicorns. And this mystical herd only continues to grow year after year.”
In fact, the world of venture capital is already booming halfway through 2019 with 14 startups already inducted into this notable group. 2018 saw the rise of 100 new unicorns. In total, more than 481 unicorn startups now exist around the world.”
“Becoming a unicorn is the envy of all startups, so what can you do to make it there? This guide dives into some of the factors that make unicorns unique, including geographical placement, industry breakdown and lessons you can apply to your startup. That way, you can better understand unicorn land and how to model your startup.”
Thanks to Keilah Keiser of Embroker for providing the following infographic. It summarizes material in the above-linked unicorn article by Embroker.