A unicorn refers to a privately held startup company with a valuation exceeding $1 billion. This term, first introduced by venture capitalist Aileen Lee in 2013, draws a parallel between these companies and the mythical creatures, emphasizing their rarity and immense value. She used it to describe American software companies less than ten years old and valued at $1 billion or more by private investors or public markets. Lee envisioned these startups as driving the tech industry's future growth and innovation.
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