A new Unicorn has been spotted!

A unicorn is a magical creature that resembles a horse with a single horn protruding from its forehead. Unicorns are said to have healing powers and are often associated with purity and innocence. In medieval times, unicorns were believed to be real animals, and their horns were highly valued. Today, unicorns are mostly found in children's stories and movies. They are typically portrayed as gentle and loving creatures, but they can also be fierce defenders of their forest homes.

What is a Unicorn in terms of company valuation?

A Unicorn is a start-up company that has achieved a valuation of over one billion dollars. The term was first coined in 2013 by venture capitalist Aileen Lee, who used it to describe the rarity of such businesses. While Unicorns are usually associated with the technology sector, they can come from any industry. Some of the most well-known Unicorns include ride-sharing service Uber, online retailer Etsy, and home-sharing platform Airbnb. As these companies have shown, achieving Unicorn status requires significant growth and a vast potential market. In addition, Unicorns often benefit from a first-mover advantage or a unique business model that sets them apart from their competition. While the path to becoming a Unicorn is never easy, these companies have demonstrated that it is possible to achieve extraordinary success.

So, what is the new Unicorn we spotted?

Stability AI Ltd. … that’s our new Unicorn.

“AI by the people, for the people. Designing and implementing solutions using collective intelligence and augmented technology.

We’re a company of builders who care deeply about real-world implications and applications. Many of our most considerable advances grow from working across multiple teams. We are unafraid to go against established norms and explore creativity.

Our primary drive is to generate breakthrough ideas and convert them into solutions. We respect innovation over tradition. We trust that our differences make us more robust, and so we seek reason within every difference of perspective.”

stability.ai

How is Stability AI Ltd a “Unicorn” now?

The parent company of Stable Diffusion, an artificial intelligence tool that makes digital art has reached unicorn status after raising funds from some top names in venture capital.

The firm named Stability AI Ltd. raised 100+ million dollars through a seed round led by Coatue Management and Lightspeed Venture Partners making them eligible for Unicorn status according to Bloomberg News.