What do we mean when we talk about a “unicorn” in the entrepreneurial ecosystem?
The opinions expressed by employees are personal.
If you are immersed in the entrepreneurial ecosystem, you have surely heard of the so-called “unicorns”. And they talk about them everywhere, from the viral video “Hot Crazy Matrix: A man's guide to women” to Tech Crunch in his article or Fortune, with its list of. But what do we mean when we talk about a “unicorn” in the business environment?
By definition, a unicorn is a fabulous and mythological animal. But in business this term has a somewhat different connotation.
In November 2013, founder of Cowboy Ventures, she was the first to introduce the term. He was referring to a technology company that reaches a value of one billion dollars in some of the stages of its capital raising process. According to Aileen, these “unicorns” used to be a myth or a fantasy. But now it seems that, at least, we find four such companies a year, backed by a new generation of disruptive technology .
In 2013, Aileen told us about the 39 Unicorn Club – which represents .07 percent of the B2C and B2B software startups. As of today, Fortune has more than 80 companies that have been valued above one billion dollars (pre-IPO). Those at the top of the list are Facebook ($ 122B), Xiaomi ($ 46B), Uber ($ 41.2), Linkedin ($ 25B), Palantir ($ 15B), Airbnb ($ 13B), Workday ($ 12B), Flipkart ($ 10.6 ), Dropbox ($ 10.4), Snapchat ($ 10B) and Twitter ($ 9B).
These are some interesting facts about unicorn companies:
-They emerged in the era of social networks , and knew how to take advantage of their boom to consolidate and grow.
-They are B2C, that is, they develop a commercial strategy to reach the customer or final consumer directly.
-On average, in the past decade four unicorn companies were born per year. Facebook was the “superunicorn” star, valued at more than 100 billion dollars.
-They have generated approximately 26x more value for each private dollar invested.
-The average age of the entrepreneurs who found them is 34 years.
-Your teams are made up of three entrepreneurs on average.
-90 percent of companies have founders who already knew each other before, at school or at work.
-Only two of the unicorn companies were founded by women (Gilt Groupe and Fab). And currently, no CEO of these companies is female.
-The last conclusion is alarming, and even more coming from a developed country (27 of the 39 Unicorn Club companies are based in San Francisco). This means that there is a huge opportunity and a lot to do.
And you, what would you have to do to stop aspiring to be a unicorn and become one?
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