{"id":51239,"date":"2022-03-03T08:57:47","date_gmt":"2022-03-03T16:57:47","guid":{"rendered":"https:\/\/newrcblog.wpengine.com\/us\/en\/blog\/?p=51239"},"modified":"2025-03-13T06:19:52","modified_gmt":"2025-03-13T13:19:52","slug":"what-is-a-unicorn-startup","status":"publish","type":"post","link":"\/us\/en\/blog\/what-is-a-unicorn-startup\/","title":{"rendered":"Unicorn startups: What they are and how to build one"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Like the mythical creatures they&#8217;re named after, unicorn startups may seem nonexistent. The difference is that unicorn startups do appear every now and then, and here&#8217;s how to identify them.<\/span><\/p>\n<p>Today, we&#8217;ll cover:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#one\"><span style=\"font-weight: 400;\">What is a unicorn startup?\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#two\"><span style=\"font-weight: 400;\">Examples of unicorn startups<\/span><\/a><\/li>\n<li aria-level=\"1\"><a href=\"#four\">Up-and-coming unicorn startups<\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#three\"><span style=\"font-weight: 400;\">9 tips to become a unicorn startup<\/span><\/a><\/li>\n<\/ul>\n<hr \/>\n<p><strong>\ud83d\ude80 What are the 4 keys to a successful startup?<\/strong> Does your company have them all?<\/p>\n<p><span style=\"font-weight: 400;\"><\/p>\n<div class=\"download-form-widget standart-download-form\" data-url=\"http:\/\/netstorage.ringcentral.com\/ebook\/smb_startup.pdf\" data-id=\"69d4a688671bc\" id=\"69d4a688671bc\">\n\t\t<button tabindex=\"on\"  on=\"tap:69d4a688671bc.toggleClass(class='open')\" class=\"open-modal-download-action download-form-button\" type=\"submit\">See how you measure up<\/button><\/p>\n<div class=\"download-form-modal\">\n<div class=\"download-form-modal-body\">\n<div class=\"download-form-modal-content\">\n<div class=\"download-form-modal-title\">Learn the top 4 components to any successful startup<\/div>\n<form class=\"download-form SMB\" method=\"post\">\n<div class=\"download-form-part\">\n\t\t\t\t\t\t\t<input class=\"download-form-input\" aria-label=\"Full Name\" aria-required=\"true\" aria-invalid=\"false\" type=\"text\" name=\"fullname\" placeholder=\"Full Name\" data-dl-events-hover=\"true\" data-dl-element=\"text\" data-dl-additional-info=\"download form\">\n\t\t\t\t\t\t<\/div>\n<div class=\"download-form-part\">\n\t\t\t\t\t\t\t<input class=\"download-form-input\" aria-label=\"Email (please enter a work email address)\" aria-required=\"true\" aria-invalid=\"false\" type=\"email\" autocomplete=\"on\" name=\"email\" placeholder=\"Email (please enter a work email address)\" data-dl-events-hover=\"true\" data-dl-element=\"email\" data-dl-additional-info=\"download form\">\n\t\t\t\t\t\t<\/div>\n<div>\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"popup_form\" value=\"1\">\n\t\t\t\t\t\t<\/div>\n<div><input type=\"hidden\" name=\"Asset_ID__c\" value=\"ODAM-01423 \" class=\"download-form-input\"><\/div>\n<div>\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"Lead_Entry_Source__c\" value=\"RC Blog\" class=\"download-form-input\"\/>\n\t\t\t\t\t\t<\/div>\n<div class=\"download-form-part\">\n\t\t\t\t\t\t\t<button class=\"download-form-submit\" type=\"submit\" data-dl-element=\"button\" data-no-auto-dl=\"true\" data-dl-additional-info=\"download form\" data-dl-name=\"Read the eBook\">Read the eBook<\/button>\n\t\t\t\t\t\t<\/div>\n<\/p><\/form>\n<p> \t\t\t\t\t<button on=\"tap:69d4a688671bc.toggleClass(class='open')\" role=\"button\" tabindex=\"0\"  class=\"download-form-modal-close\"><\/button>\n\t\t\t\t<\/div>\n<div class=\"download-form-modal-thank\"> Enjoy!<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><\/span><\/p>\n<hr \/>\n<h2><span style=\"font-weight: 400;\"><a id=\"one\"><\/a>What is a \u201cunicorn startup\u201d?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the plainest terms, <strong>a unicorn startup is a privately held startup with a value of over $1 billion.\u00a0<\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unicorn startups are typically <\/span><a href=\"https:\/\/newrcblog.wpengine.com\/us\/en\/blog\/hybrid-work-for-startups\/\"><span style=\"font-weight: 400;\">tech startup<\/span><\/a><span style=\"font-weight: 400;\"> companies, but what makes them unique is that they grow their value into the billions very quickly, with help from venture capitalists and other investors. They&#8217;re called unicorns because it&#8217;s extremely rare for startups to grow their value that much in such a small time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While each unicorn startup is different, they have some pretty important things in common. This includes a stellar <a href=\"https:\/\/www.ringcentral.com\/how-to-start-a-business\/business-plan\/\">business plan<\/a>, great leadership, the right team, and the right product at the right time.\u00a0<\/span><\/p>\n<div class=\"rc-subscribe\" id=\"new-rc-subscribe\"  style=\"background-image:url('\/us\/en\/blog\/wp-content\/themes\/ringcentral\/assets\/images\/temp\/subscribe.png')\">\n\t\t<button class=\"close js-popup-close\"><svg class=\"icon_close_mobile\" width=\"20\" height=\"20\"><use xlink:href=\"#icon_close_mobile\"><\/use><\/svg><\/button><\/p>\n<div class=\"rc-subscribe__wrapper\">\n<div class=\"rc-subscribe__wrapper_text\">\n<h3 class=\"rc-subscribe__title h2\">Stay informed with RingCentral<\/h3>\n<div class=\"rc-subscribe__subtitle\">Subscribe to our emails for the latest blogs, events, and exclusive content on AI-powered communication solutions. Stay ahead with insights and tips from the leader in trusted AI communications.<\/p>\n<p>\t\t\t\t\t<a href=\"https:\/\/www.ringcentral.com\/legal\/privacy-notice.html\" target=\"_blank\" data-dl-name=\"Privacy Notic\" data-dl-element=\"link\" data-dl-additional-info=\"social\" rel=\"noreferrer noopener\">Privacy Notice<\/a>\n\t\t\t\t<\/div>\n<\/p><\/div>\n<div class=\"rc-subscribe__wrapper_form\">\n<form class=\"\" data-event-init=\"true\" novalidate data-js-form>\n<div class=\"rc-subscribe__row\">\n\t\t\t\t\t\t<input\n\t\t\t\t\t\t\t\tname=\"email\"\n\t\t\t\t\t\t\t\tplaceholder=\"Email address *\"\n\t\t\t\t\t\t\t\ttitle=\"Must be valid email. example@yourdomain.com\"\n\t\t\t\t\t\t\t\tminlength=\"4\"\n\t\t\t\t\t\t\t\tmaxlength=\"255\"\n\t\t\t\t\t\t\t\ttype=\"email\"\n\t\t\t\t\t\t\t\trequired\n\t\t\t\t\t\t\t\tpattern=\"[a-z0-9._%+\\-]+@[a-z0-9.\\-]+\\.[a-z]{2,}$\"\n\t\t\t\t\t\t\t\tclass=\"field__control\"\n\t\t\t\t\t\t\t\tautocomplete=\"on\"\n\t\t\t\t\t\t\t\taria-required=\"true\"\n\t\t\t\t\t\t\t\tdata-dl-events-hover=\"true\"\n\t\t\t\t\t\t\t\tdata-dl-element=\"email\"\n\t\t\t\t\t\t\t\tdata-dl-additional-info=\"LET'S WORK TOGETHER\"\n\t\t\t\t\t\t\t\taria-label=\"Email address *\"\n\t\t\t\t\t\t\t\taria-errormessage=\"email-subscribe-errors\"\n\t\t\t\t\t\t><br \/>\n\t\t\t\t\t\t<span class=\"field__errors\" id=\"email-subscribe-errors\" data-js-form-field-errors><\/span>\n\t\t\t\t\t<\/div>\n<div class=\"rc-subscribe__row\">\n\t\t\t\t\t\t<select\n\t\t\t\t\t\t\t\tname=\"Country__c\"\n\t\t\t\t\t\t\t\trequired\n\t\t\t\t\t\t\t\tclass=\"field__control\"\n\t\t\t\t\t\t\t\taria-required=\"true\"\n\t\t\t\t\t\t\t\taria-expanded=\"false\"\n\t\t\t\t\t\t\t\taria-label=\"Country *\"\n\t\t\t\t\t\t\t\taria-errormessage=\"country-subscribe-errors\"\n\t\t\t\t\t\t><option value=\"\" disabled=\"disabled\" selected=\"selected\">Country<\/option><option value=\"Canada\">Canada<\/option><option value=\"United_States\">United States<\/option><\/select><\/p>\n<p>\t\t\t\t\t\t<span class=\"field__errors\" id=\"country-subscribe-errors\" data-js-form-field-errors><\/span>\n\t\t\t\t\t<\/div>\n<div class=\"rc-subscribe__row\">\n\t\t\t\t\t\t<button type=\"submit\" data-event-init=\"true\">Subscribe<\/button>\n\t\t\t\t\t<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"confirm-form\" role=\"status\" aria-live=\"polite\" style=\"display: none;\" aria-hidden=\"true\">\n<div class=\"confirm-form__text\">Thank you for your interest in RingCentral<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<h2><span style=\"font-weight: 400;\"><a id=\"two\"><\/a>Examples of unicorn startups\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Some are <\/span><span style=\"font-weight: 400;\">tech companies<\/span><span style=\"font-weight: 400;\"> that are almost household names, like <\/span><span style=\"font-weight: 400;\">Uber<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">Airbnb<\/span><span style=\"font-weight: 400;\">. But there are also lesser-known unicorn startups, such as Dropbox and Pinterest.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here&#8217;s a list of companies that are considered unicorn startups, and what they did right.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Uber<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In 2009, <\/span><span style=\"font-weight: 400;\">Uber<\/span><span style=\"font-weight: 400;\"> was known as a luxury black car service in San Francisco until the company&#8217;s founder decided to expand its operations to <\/span><span style=\"font-weight: 400;\">New York<\/span><span style=\"font-weight: 400;\"> City. At this point the company also changed its <\/span><span style=\"font-weight: 400;\">business model<\/span><span style=\"font-weight: 400;\"> to become a taxi service, and in doing so became one of the most valuable unicorn startups in the world.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Airbnb<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The founders of <\/span><span style=\"font-weight: 400;\">Airbnb<\/span><span style=\"font-weight: 400;\"> were attempting to raise money for their new business, but they couldn&#8217;t get enough investors on board. In a last-ditch effort, they decided to rent out air mattresses in their living room for $80\/night and promote the idea on Craigslist. Eighteen people showed up for this <\/span><span style=\"font-weight: 400;\">Airbnb<\/span><span style=\"font-weight: 400;\"> open house, and the company raised $30,000. This was all it took to launch what would become a $25 billion unicorn startup.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Dropbox<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The founders of Dropbox started out as software developers who noticed a need for user-friendliness in cloud storage. With only $2,000 and a few servers, they launched and eventually grew their company to be one of the most <\/span><span style=\"font-weight: 400;\">successful startups<\/span><span style=\"font-weight: 400;\"> ever.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Pinterest<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Three employees left Google in 2011 to launch their own web-based software company, and today Pinterest is a $12.3 billion <\/span><span style=\"font-weight: 400;\">unicorn startup<\/span><span style=\"font-weight: 400;\">. Where did they find their success? A unique, attractive user interface made it easy for brands to share their products and consumers to find inspiration from each other.<\/span><\/p>\n<h2 class=\"heading h2\"><a id=\"four\"><\/a>Potential unicorn startups to watch<\/h2>\n<p><span style=\"font-weight: 400;\">There are plenty of upcoming unicorn startups that could soon become successful businesses. Depending on how you measure it, there are over 100 companies valued at over $1 billion that are considered unicorns.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Company Name<\/b><\/td>\n<td><b>Year Founded<\/b><\/td>\n<td><b>Industry<\/b><\/td>\n<td><b>Funding Raised<\/b><\/td>\n<td><b>Estimated Revenue<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Capsule<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2015<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Healthcare<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$270M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$100M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Acorns<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2012<\/span><\/td>\n<td><span style=\"font-weight: 400;\">FinTech<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$257M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$50M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Algolia<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2012<\/span><\/td>\n<td><span style=\"font-weight: 400;\">SaaS<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$184M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$50M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Lyra<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2015<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Healthcare<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$176M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$50M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Coalition<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2017<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Cybersecurity<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$125M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$27M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Moveworks<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2016<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Artificial Intelligence<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$105M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$10M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">SmartRent<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2016<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Home Technology<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$102M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$35M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Mirror<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2016<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fitness<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$72M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$45M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Solugen<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2016<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Biotechnology<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$68M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$12M<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Homebound<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2017<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Homebuilding Tech<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$53M<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$10M<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">As you can see, many of these companies have been in operation for more than 5 years already, and many people have never heard of them. There\u2019s a lot of work that goes into a startup before launch, and even after revenue begins to grow, there\u2019s a long runway.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most startups fail, but these companies prove that startups can grow from small beginnings to do great things. Watch the companies in the table above to see what may happen with them in the next few years.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><a id=\"three\"><\/a>9 tips to become a unicorn startup<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Many companies dream of their business ideas taking flight quickly and with much success, but it&#8217;s not easy. There are several tactics that will set you up for rapid growth in the right climate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While you can&#8217;t create a unicorn startup overnight, there are some easy steps to follow if you want to get your <\/span><span style=\"font-weight: 400;\">early-stage<\/span><span style=\"font-weight: 400;\"> business on the road to becoming a unicorn startup.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">1. Know your niche<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Before you decide to set your sights on becoming a unicorn startup, it&#8217;s important to know what kind of business you want to create. This decision will help determine many of the decisions that follow, such as if and when you start looking for funding and how much money you&#8217;re likely to raise.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. Be realistic about your budget<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unicorn startups need a lot of money to succeed, but that doesn&#8217;t mean you can just go ahead and raise as much as you want without thinking it through. It&#8217;s possible for your company to grow too quickly if you have more cash than what you really need at the moment or if you don&#8217;t have enough cash to meet your needs down the road.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/p>\n<div class=\"rc-post-content-cta rc-post-content-cta_yellow\">\n<div class=\"rc-post-content-cta-columns\">\n<div class=\"bottom-cta-img\">\n\t\t\t\t<img decoding=\"async\" width=\"930\" height=\"700\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2020\/12\/GettyImages-1216184715.jpg\" class=\"responsive-image\" alt=\"\" \/>\t\t\t<\/div>\n<div class=\"bottom-cta-copy\">\n<div class=\"headline-copy\" style=\"text-align:left;\">Your guide to small business budgeting<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"rc-post-content-cta-footer\">\n<div class=\"bottom-cta-logo-container\">\n<div class=\"bottom-cta-logo\"><span aria-hidden=\"true\"><svg width=\"154\" height=\"34\" viewBox=\"0 0 154 34\" fill=\"#000\" role=\"img\" 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\/>\n\t\t\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11.6302 16.6477V16.5017C13.8424 15.8905 15.339 14.4051 15.339 11.0684C15.339 7.64031 12.782 5.14423 8.04169 5.14423H0V26.9657H3.73931V18.3H8.29354C10.4143 18.3 11.4746 19.3604 11.4746 21.4811V26.9817H15.2139V21.4811C15.2139 18.3946 13.9033 17.1482 11.6302 16.6477ZM7.84117 14.9329H3.73931V8.51618H7.83956C9.86562 8.51618 11.4233 9.35998 11.4233 11.7277C11.4233 14.0955 9.85119 14.9329 7.84117 14.9329Z\" \/>\n\t\t\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19.7329 9.60219C20.2077 9.60219 20.6729 9.46262 21.0676 9.19794C21.4638 8.93485 21.7718 8.55948 21.9531 8.11994C22.1359 7.68039 22.1824 7.19754 22.091 6.73233C21.998 6.26552 21.7702 5.83721 21.4333 5.50194C21.0964 5.16506 20.6697 4.93727 20.2029 4.84423C19.7361 4.75119 19.2532 4.79931 18.8153 4.98219C18.3758 5.16506 18.002 5.47306 17.7373 5.86769C17.4742 6.26231 17.333 6.72752 17.3347 7.20235C17.3298 7.67879 17.4694 8.144 17.7325 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height=\"24\" viewBox=\"0 0 24 24\" fill=\"#000\" role=\"img\" aria-labelledby=\"cta-ring-arrow-1981694793\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t<title id=\"cta-ring-arrow-1981694793\">Ring Central Logo<\/title>\t\n\t\t\t\t\t<path d=\"M0 11.5C0 11.2239 0.223858 11 0.5 11H21.6797C21.9559 11 22.1797 11.2239 22.1797 11.5V12.5C22.1797 12.7761 21.9559 13 21.6797 13H0.5C0.223858 13 0 12.7761 0 12.5V11.5Z\" ><\/path>\n\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M21.1718 12.0001L15.8086 6.63691C15.6134 6.44165 15.6134 6.12506 15.8086 5.9298L16.5157 5.22269C16.711 5.02743 17.0276 5.02743 17.2228 5.22269L23.6467 11.6465C23.8419 11.8418 23.8419 12.1584 23.6467 12.3536L17.2228 18.7775C17.0276 18.9727 16.711 18.9727 16.5157 18.7775L15.8086 18.0704C15.6134 17.8751 15.6134 17.5585 15.8086 17.3633L21.1718 12.0001Z\" ><\/path>\n\t\t\t\t<\/svg><\/span><\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">3. Know what you&#8217;re getting yourself into<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">As a startup owner, getting funding from investors is not a decision that should be taken lightly. Keep in mind that you&#8217;ll be somewhat limited by who can invest and how much they can invest. For example, VC companies are much more common in the United States than they are worldwide.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Work smarter from Day One<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Streamlining day-to-day processes early on will let you focus on the important work of growing your business. One example: your communications. You\u2019ll need a reliable <a class=\"waffle-rich-text-link\" href=\"https:\/\/www.ringcentral.com\/lp\/small-business-phone-service.html\">business phone<\/a>, a robust team messaging system for internal communication and project management, and polished video conferencing for those important investor meetings. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Putting all of these channels together, on the cloud, frees up time and helps your team run like a well-oiled machine. All-in-one apps like <a href=\"https:\/\/ringcentral.com\/startup\">RingCentral<\/a> cut out the clutter so you can focus on what matters most. You can message your team, start a video conference, and answer important phone calls from anywhere on any mobile device:\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-49182 size-full\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2021\/09\/Creating-a-Team-Huddle-2.gif\" alt=\"ringcentral team huddle - switch from message to video\" width=\"1280\" height=\"800\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">5. Don&#8217;t reinvent the wheel<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once you&#8217;ve decided on which business to launch, don&#8217;t try to create something completely different from what&#8217;s out there already. Do some research to make sure your idea hasn&#8217;t been done before and will be able to gain traction quickly.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">6. Get feedback early and often<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you want your business to succeed, it&#8217;s important to get feedback from your customers early on so you&#8217;ll know when adjustments are needed. Keeping an active <\/span><span style=\"font-weight: 400;\">social media<\/span><span style=\"font-weight: 400;\"> presence is one way to do this, but talking with customers in person or over the phone works well too, especially if they&#8217;re local.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">7.\u00a0 Don&#8217;t limit your options<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Another tactic for unicorn startups is to think beyond the traditional routes of funding, such as banks or VC companies. You might have friends or family members willing to invest in your business idea under certain circumstances. Meanwhile, crowdfunding sources like Kickstarter ensure that you&#8217;ll have the cash you need by pre-selling your product or service to customers.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">8. Choose the right time<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It&#8217;s not a good idea to set up a business website and start looking for investors before making any preparations. To increase your chances of getting funding, make sure you have a real business plan in place first, along with a road map that shows how much money you&#8217;ll need and how you intend to use it.<\/span><\/p>\n<h3 class=\"heading h3\">9. Hire the right team<\/h3>\n<p><span style=\"font-weight: 400;\">Don\u2019t limit yourself to your local area when it comes to hiring. Today, the global talent market is at your fingertips, and it\u2019s never been easier to reach the best of the best. Brush up on how to recruit, hire, and onboard remote employees so you\u2019ll be ready to find the best fit for your unicorn-in-progress.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/p>\n<div class=\"rc-post-content-cta rc-post-content-cta_green\">\n<div class=\"rc-post-content-cta-columns\">\n<div class=\"bottom-cta-img\">\n\t\t\t\t<img decoding=\"async\" width=\"930\" height=\"700\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2021\/04\/Soundandvideo2.jpg\" class=\"responsive-image\" alt=\"\" \/>\t\t\t<\/div>\n<div class=\"bottom-cta-copy\">\n<div class=\"headline-copy\" style=\"text-align:left;\">Learn how to recruit and hire remote employees <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"rc-post-content-cta-footer\">\n<div class=\"bottom-cta-logo-container\">\n<div class=\"bottom-cta-logo\"><span aria-hidden=\"true\"><svg width=\"154\" height=\"34\" viewBox=\"0 0 154 34\" fill=\"#000\" role=\"img\" aria-labelledby=\"cta-ring-logo-1386466606\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t\t\t<title id=\"cta-ring-logo-1386466606\">Ring Central Logo<\/title>\t\n\t\t\t\t\t\t\t<path d=\"M154 3.89618H150.386V26.9657H154V3.89618Z\" \/>\n\t\t\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M141.313 11.6299C137.976 11.6299 135.388 13.2501 134.95 16.5546H138.504C138.754 15.3082 139.675 14.5591 141.313 14.5591C143.214 14.5591 144.086 15.6499 144.086 17.3647V18.1444H140.438C137.078 18.1444 134.593 19.6411 134.593 22.697C134.593 25.7529 136.619 27.3411 139.55 27.3411C141.826 27.3411 143.323 26.3721 144.133 24.8145H144.288V26.9529H147.716V17.4802C147.702 13.8276 145.833 11.6299 141.313 11.6299ZM140.58 24.5675C139.177 24.5675 138.303 23.8809 138.303 22.7339C138.303 21.4233 139.238 20.7383 140.921 20.7383H144.069L144.086 20.9549C144.088 23.2232 142.777 24.5675 140.58 24.5675Z\" \/>\n\t\t\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M128.187 26.9657V19.2047C128.187 16.8979 129.623 15.4317 131.896 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9.60219Z\" \/>\n\t\t\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16.9769 0.548269C16.101 0.914019 15.307 1.44981 14.6364 2.12196L16.332 3.81756C16.7764 3.37 17.3041 3.01548 17.8865 2.77325C18.4688 2.53102 19.0928 2.40429 19.7232 2.40269C20.3537 2.40108 20.9777 2.523 21.5616 2.76362C22.1439 3.00264 22.6749 3.35556 23.1225 3.79991L24.8181 2.10431C23.8106 1.1001 22.5289 0.415123 21.1333 0.139206C19.7377 -0.139919 18.2907 0.00285184 16.9769 0.548269Z\" \/>\n\t\t\t\t\t\t<\/svg><\/span><\/div>\n<\/p><\/div>\n<div class=\"bottom-cta-link\">\n\t\t\t\t<a href=\"#\" class=\"view-all view-all-white \" data-dl-name=\"Read the blog\" data-dl-element=\"button\" data-dl-additional-info=\"bottom cta banner\" data-no-auto-dl=\"true\">Read the blog<span class=\"svg-icon\" aria-hidden=\"true\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"#000\" role=\"img\" aria-labelledby=\"cta-ring-arrow-1386466606\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t<title id=\"cta-ring-arrow-1386466606\">Ring Central Logo<\/title>\t\n\t\t\t\t\t<path d=\"M0 11.5C0 11.2239 0.223858 11 0.5 11H21.6797C21.9559 11 22.1797 11.2239 22.1797 11.5V12.5C22.1797 12.7761 21.9559 13 21.6797 13H0.5C0.223858 13 0 12.7761 0 12.5V11.5Z\" ><\/path>\n\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M21.1718 12.0001L15.8086 6.63691C15.6134 6.44165 15.6134 6.12506 15.8086 5.9298L16.5157 5.22269C16.711 5.02743 17.0276 5.02743 17.2228 5.22269L23.6467 11.6465C23.8419 11.8418 23.8419 12.1584 23.6467 12.3536L17.2228 18.7775C17.0276 18.9727 16.711 18.9727 16.5157 18.7775L15.8086 18.0704C15.6134 17.8751 15.6134 17.5585 15.8086 17.3633L21.1718 12.0001Z\" ><\/path>\n\t\t\t\t<\/svg><\/span><\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Is <em>your<\/em>\u00a0 startup a unicorn on the rise? \ud83e\udd84<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">valuation<\/span><span style=\"font-weight: 400;\"> of unicorn startups has made them appealing to investors because they usually have the potential to increase in value exponentially. However, there are still plenty of failures out there. Anyone who&#8217;s interested in becoming a unicorn should research the matter thoroughly before taking steps to start their own business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One way to increase the chances of being a successful unicorn is to have a clear vision and a great understanding of your target market. You&#8217;ll also need a keen business sense and lots of passion for what you do. Always remember that unicorn startups are just normal people who have been willing to work hard to achieve greatness.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With perseverance,\u00a0 a great idea, and the right tools from Day 1, it is possible to become a unicorn. <\/span><a href=\"https:\/\/www.ringcentral.com\/startup\"><span style=\"font-weight: 400;\">See our startup resources<\/span><\/a><span style=\"font-weight: 400;\"> to help get your unicorn startup on the right track.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Like the mythical creatures they&#8217;re named after, unicorn startups may seem nonexistent. The difference is that unicorn startups do appear every now and then, and here&#8217;s how to identify them. Today, we&#8217;ll cover: What is a unicorn startup?\u00a0 Examples of unicorn startups Up-and-coming unicorn startups 9 tips to become a unicorn startup \ud83d\ude80 What are &#8230;<\/p>\n","protected":false},"author":29,"featured_media":51240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17901,18722],"tags":[],"class_list":["post-51239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-leadership","category-startups"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.3 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Unicorn startups: What they are and how to build one | RingCentral Blog<\/title>\n<meta name=\"description\" content=\"Do you have dreams of becoming the next big thing in business? 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