If you’ve been paying attention to Silicon Valley this year, you’ve likely heard of a startup unicorn. (If you haven’t, read our cover story, The Age of Unicorns, from January.) The proliferation of these billion-dollar startups has created its own vocabulary. Here’s our guide to speaking the language.
One-on-One Deal: A $100 million round of funding with a $1 billion valuation.
My Little Pony: A startup worth $10 million or more. (Coined by Dave McClure, founder of accelerator program 500 startups.)
Centaur: A startup worth $100 million or more.
Decacorn: A startup worth $10 billion or more.
Quinquagintacorn: A startup worth $50 billion or more (see Uber).
Unicorpse: A former unicorn, now valued at less than $1 billion.
*Honest, we didn’t make these up.
A version of this article appears in the September 15, 2015 issue of Fortune magazine with the headline “Not all unicorns are created equal.”