An unlisted startup with a stock valuation (market capitalization) of $100 billion or more, Hecto is an English prefix meaning 100x, and Uni in unicorn originally meant "one" (single), which is a play on the term "hectocorn company". The term "hectocorn company" has been used since 2017 as a new benchmark, as several unicorn companies in the U.S. have exceeded $1 billion in market capitalization in a short period of time, and as of 2020, only Bytedance (TikTok, etc.) is considered a hectocorn company, with China's presence increasing.
