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A startup with a $1B valuation.
To be a bit more specific; a privately owned startup valued at $1B or more.
I think I would prefer to stick with the traditional meaning --- it makes HN's headlines more entertainingly surreal.

> How to Build a Unicorn and Walk Away with Nothing

> GitHub's Unicorn Setup

> Tell HN: Unicorns aren't ad-supported

> In Search of Uber’s Unicorn

And nobody is going to tell me neigh.

Ok. I will invest 1$ in random startup for 1/1000000000 of the company - congratulations we have a new unicorn.
Reminds me of something Michael Lewis wrote:

“You have a dog, and I have a cat. … You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.”

Is there a canonical source for that definition, or at least showing that it's accepted slang in SV? I'm not saying I don't believe you; I'd only like to know the extent to which this is the accepted meaning.
It's a term that was introduced by Aileen Lee: http://techcrunch.com/2013/11/02/welcome-to-the-unicorn-club...
Thanks!
A legendary animal.