"Nearly two decades ago, tech startups used to chase the distinct pedigree of being a unicorn - reaching a $1 billion valuation. Now, fast-growing tech startups like OpenAI and SpaceX have shifted the goal posts by hundreds of billions of dollars. The era of the hectocorn has arrived. It is a small but growing club, and you must be valued at more than $100 billion to qualify."
"Tech unicorns valued at $1 billion aren't all that special anymore. The hectocorn, companies valued at $100 billion or more, are the hot new thing. OpenAI, SpaceX, and Anthropic are leading the way with multi-centibillion-dollar valuations. Nearly two decades ago, tech startups used to chase the distinct pedigree of being a unicorn - reaching a $1 billion valuation. Now, fast-growing tech startups like OpenAI and SpaceX have shifted the goal posts by hundreds of billions of dollars."
Hectocorns are startups valued at $100 billion or more, representing a new tier above $1 billion unicorns. The rise of multi-centibillion valuations has moved the prestige benchmark far beyond the $1 billion mark. Fast-growing technology companies have shifted the goal posts by hundreds of billions of dollars. Companies such as OpenAI, SpaceX, and Anthropic occupy the new elite. The hectocorn club remains small but is growing, and membership requires valuation in excess of $100 billion. Waymo, Alphabet's self-driving robotaxi unit, is in talks for a funding round that could push its valuation past $100 billion. Seven startups have already reached hectocorn status.
Read at Business Insider
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