b'Unicorns, Dragons& DuocornsUnicorns & Duocorns When Aileen Lee first came up with the term Unicorns in 2013, she was referring According to a TechCrunch article, It wasto US-based software Aileen Lee, who first coined the termcompanies that were less than 10 years old and valued Unicorn to describe start-ups valued atat $1 billion. At that time, $1 billion. there were just 39 of them. The term was meant to Lee is the founder of Cowboy Venturesconvey just how rare and mythical it seemed that a and one of the first venture capital firms tostart-up could reach such be launched by a woman. That same year,a valuation.2013, Statista revealed that only four femaleJournalists Dan Primack Unicorn companies emerged making theseand Erin Griffin widened the definition in a Forbes article companies rarer than even unicorns.two years later to refer to any privately-held start-up that hit Perhaps its time to give these rarest ofthe $1 billion milestone. With success categories a new term so forthat the accepted number of unicorns rose to 80.purposes of distinction we will refer toNow though there are more them as Duocorns. than 800 unicorn tech 10'