The term 'unicorn' is younger than the companies it describes
Venture capitalist Aileen Lee coined 'unicorn' in 2013 for rare startups valued over $1 billion, capturing the tech boom's spirit, even though some companies hit this milestone earlier.
In 2013, venture capitalist Aileen Lee coined the term 'unicorn' for privately held startups valued over $1 billion. Her analysis focused on U.S. software companies, finding only 39 such firms out of 50,000 venture-backed startups between 2003 and 2013, highlighting their extreme rarity.
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