A unicorn is a startup company with a value of over $1 billion. The term "unicorn" was first popularized by the venture capitalist Aileen Lee, founder of CowboyVC, a seed stage venture capital fund based in Palo Alto, Calif. In her article, "Welcome to the Unicorn Club: Learning from Billion-Dollar Startups," she looked at software startups founded in the 2000s and estimated that only 0.07% of them ever reach $1 billion valuation. Those that do reach the $1 billion mark are so rare that finding one is as difficult as finding a mythical unicorn.
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