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In business, a unicorn is a privately held startup company valued at over US$1 billion.: 1270 The term was first published in 2013, coined by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures.
CB Insights identified 1,170 unicorns worldwide as of June 2022[update]. Unicorns with over $10 billion in valuation have been designated as "decacorn" companies. For private companies valued over $100 billion, the terms "centicorn" and "hectocorn" have been used. SpaceX is in the forefront to reach the elusive "superunicorn" status, to reach over $1 trillion valuation while remaining as a private company.