Unicorn

Definition:

In the venture capital and private equity industries, a unicorn is a term used to describe a privately held startup with a valuation of over $1 billion. 

How does a startup become unicorn?

As the name suggests, becoming a unicorn startup is a rare feat. You’ll need an innovative idea, a clear vision for growth, a solid business plan, and a viable way to communicate your message to venture capitalists and private investors. And having all of those components at your disposal is no easy task.  

Do startup founders take salary?

Yes, they do. Sure, some don’t and survive purely off of their savings until the company turns a profit. But plenty of founders do take a salary, and there’s nothing wrong with doing so. 

How do I pay myself as a startup owner?

Stop thinking of your compensation as a founder as linear during the formative years of your startup. Think of it more as a dynamic plan that adjusts with the ebbs and flows of your startup's growth while always covering your basic living expenses like housing costs and food. 

What are some B2B SaaS unicorns?

Dropbox, Grammarly, and Canva are great examples of SaaS unicorns with B2C and B2B aspects to their business.