A unicorn startup used to be a rare thing. But times have changed. According to Crunchbase data from September 8, 2024, there are 1,452 unicorn companies globally. But it gets better. As the valuation of companies has exploded, we need new terms. Enter the "decacorn," a unicorn company with a valuation of at least $10B. There is even a rarified club now called "hectocorn" of which only four companies are members with their valuations at $100B or higher.

 

Who will be the next unicorn? It could be one of the many "soonicorns"— companies on the verge of becoming unicorns with valuations just below $1B.