|Photo credit: Electronic_Frontier_Foundation / Foter / CC BY|
A "unicorn" tech company is one that was recently launched (a "start up") and is valued at over a billion dollars. Companies with these features are said to be "in the unicorn club".
The proliferation of companies that fit these criteria is seen by some commentators as suggesting that the "tech bubble" will soon burst, leading to a precipitous loss of value in companies across the tech sector.
Adi Tatarko (of Houzz) has suggested that unicorn companies should not be defined by their theoretical monetary value but by whether their influence on their industry is transformative.