Business Pitch Dictionary by pitch.dog
Startup stages & company states · Core

Unicorn

Also called: billion-dollar startup

ELI5

A private startup valued at one billion dollars or more.

Used in conversation

“Unicorn status is a valuation label, not proof of durable economics.”

Definition

A privately held startup valued at at least one billion US dollars in a financing or secondary transaction.

Here “Unicorn” means: A privately held startup valued at at least one billion US dollars in a financing or secondary transaction.

Pitch context

You will see “Unicorn” in fundraising decks, data rooms, term sheets and investor conversations when the discussion reaches startup stages & company states.

Why it matters: It helps a reader interpret startup stages & company states without confusing the measure, decision, role or evidence being discussed.

Sources & evidence · 5

Supporting source families. This entry is an editorial synthesis rather than a quotation from one canonical glossary.