unicorpse
n. A technology company once worth more than a billion dollars but now worth substantially less or out of business.
Etymology
Examples
2016
“The speculation in private high-tech companies (the most valuable of which are known as 'unicorns') has also ended with a thud,” he said in the letter issued Friday. "A friend of mine said the new name for these companies is 'unicorpse' as many of them cannot fund their losses internally for more than a few months and now have almost no access to external funding."
—Katia Dmitrieva, “Watsa Decries 'Unicorpse' Collapse as Tech Companies Lose Value,” Bloomberg, March 11, 2016
2015
"The number of 'unicorpses' will soon begin to catch up with the number of unicorns," said Gary Rieschel, Shanghai-based founder and managing director of Qiming Venture Partners.
2015
By late 2011 LivingSocial had raised more than $800 million and reached a valuation of $4.5 billion…Today, LivingSocial is more unicorpse than unicorn.
—Mike Isaac & Katie Benner, “LivingSocial Offers a Cautionary Tale to Today’s Unicorns,” The New York Times, November 20, 2015
2015 (earliest)
Some will demonstrate strategically justifiable metrics and have fantastic 'up round' exits; others may see liquidation preferences kick in which will negatively impact founders and employees; others may fulfill the adage "IPO is the new down round", which has been the case for more than half of the public companies on our list. Or worse, some may become "Unicorpses" :)).