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346 So Long, Unicorns. Hello, ZIRPicorns?

The Information
Kate Clark @ The Information 2 place · 01/18/2024 15:56 EDT

So Long, Unicorns. Hello, ZIRPicorns?

Aileen Lee, co-founder of seed venture capital firm Cowboy Ventures, famously coined the term “unicorn” to describe tech companies with billion-dollar valuations back in 2013. Now she’s using “ZIRPicorns” to describe the hundreds of startups that haven’t raised money since the zero-interest rate period and whose valuations are likely wildly off base. In a blog post celebrating the 10th birthday of her famous term, she writes that 40% of the 532 U.S. unicorns are trading at valuations below $1 billion in the

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