A unicorn startup is a privately held company with a valuation of at least $1 billion. It’s also known as a “decacorn,” which refers to companies valued at more than $10 billion. Since the term was first used in 2013, there’s been a lot of talk about how to become one. However, not everyone wants to be an entrepreneur, nor is every business owner a good fit for this type of venture. Here are some things to consider before deciding if it’s right for you:
What is a Unicorn Startup
The term “Unicorn” comes from the mythical creature with one horn and many magical properties. It was first coined by Aileen Lee, who wrote an article titled “Venture Capitalists Are Looking For The Next Uber” on TechCrunch in 2013. Lee defined Unicorns as startups with at least one of three characteristics:
- A private market valuation of over $1 billion;
- An annual revenue run rate of $100 million or more; or
- An exit event such as going public or being acquired for at least $1 billion
You don’t have to be the biggest company to be a unicorn startup. There are many examples of small companies that have achieved this status, including:
- Dropbox – Files synchronization and sharing software for personal computers. They have over 500 million users worldwide and were valued at $10 billion in 2015.
- Airbnb – An online marketplace for short-term lodging that allows people to list, find and rent properties all over the world. It has expanded its services from rooms or apartments to entire homes/apartments in 191 countries with over 2 million listings at any given time (as of 2017).
- Spotify – A music streaming service available on desktop computers as well as mobile devices such as smartphones/tablets/smartwatches etc… It was launched in 2008 by Daniel Ek who had previously worked at TradeDoubler which was acquired by Google two years later before starting his own venture capital firm called Northzone Ventures which invested $8 million into Spotify during its Series A round back then but now has a market cap that exceeds $19 billion dollars!
In order to build a startup, you need to focus on what makes your company unique. This doesn’t mean that you should do everything in your power to be different; rather, it means that you should find a niche where others aren’t playing and then fill it with something useful or interesting.
You should also make sure that the problem being solved by this product has real value for people who use it–and not just those who make it. For example, if you’re building an app for managing grocery lists at home or work (like Trello), then there’s no point in including features like accounting software because most people won’t use them very often if at all.*
The customer experience is another important aspect of building a successful startup: How easy is it for someone who has never used our product before? Are there any confusing aspects about how we interact with our customers? Does everything work smoothly from start-to-finish? These kinds of questions will help us determine whether or not we have built something truly valuable before investing too much time into developing new features or marketing campaigns.*
Voypost is an app development company that offers startups a range of services to help bring their ideas to life. The company specializes in discovery phase service and MVP development, helping startups to identify key opportunities, define project goals, and develop a minimum viable product that can be launched quickly and cost-effectively.
In addition to app development services, Voypost also offers IT outstaffing services, providing startups with access to a global pool of skilled developers. This allows startups to quickly and cost-effectively build a remote team of developers that can help bring their projects to fruition.
Voypost Talent Pool’s outstaffing platform provides startups with access to developers who specialize in software development, web development, mobile app development, and more. The company has a rigorous screening and testing process to ensure that only the most qualified developers are added to the talent pool. Voypost Talent Pool also provides ongoing support and management throughout the project, including project monitoring, reporting, and communication, ensuring that the project is completed on time and within budget.
Using Voypost’s app development services and IT outstaffing platform, startups can quickly and cost-effectively build a team of developers that can help turn their ideas into reality. With a focus on quality, speed, and ongoing support, Voypost provides startups with the resources they need to drive their growth and succeed in today’s fast-paced digital world.
A unicorn startup is a company that has reached a valuation of $1 billion or more. This can be achieved through various means such as venture capital funding, an IPO or even by being acquired by another company. Many startups dream of becoming unicorns but it’s not easy to achieve this goal. However, there are some key things that all unicorns have in common and if you follow them closely then maybe one day your startup could be worth billions too.