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Definition - What does Unicorn mean?
The term, unicorn, has different meanings in the business world:
In the venture capital industry, a unicorn refers to any tech startup company that reaches a $1 billion dollar market value as determined by private or public investment. The term was originally coined by Aileen Lee, founder of Cowboy Ventures.
A unicorn refers to a phenomenon that occurs in human resources when those who are responsible for hiring candidates have impossible expectations. This stems from a mismatch between the expectations of the employers and who is available for hire. In other words, human resources is looking for a mythical candidate (i.e. a unicorn), rather than facing reality.
Applying a similar analogy to mergers and acquisitions, in a market where there appears to be a surplus of firms available as targets, the common mistake is to tack on too many unnecessary requirements, which may not really lead to positive synergies or be in sync with the objectives of the acquiring firm.