There are more than 343 “unicorn” startups in the world, which have a combined valuation of $1,151 billion. A “unicorn” is a private company with a valuation of at least $1 billion. There is no shortage of unicorns in the Silicon Valley, which is home to more than 200 such companies. Most of them are technology companies that attract huge investments from venture capital firms. Here we take a look at the top 10 most valuable unicorn startups.
Ranked: Top 10 most valuable unicorn startups
The ranking is based on data from CB Insights. With more than 125 unicorns, China is home to the highest number of unicorns. Chinese startups – including the ones you have never heard of – are rapidly expanding their presence in Western markets.
10- GrabTaxi, $14 billion, Singapore
Singapore-based GrabTaxi is a ride-hailing service provider with a strong presence in neighboring countries such as Malaysia, Indonesia, Thailand, Myanmar, and Vietnam. It also offers food delivery services via an app. GrabTaxi is Southeast Asia’s first “decacorn,” a startup with a valuation above $10 billion. It became a unicorn in December 2014.
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9- Epic Games, $15 billion, US
Epic Games is the developer of Fortnite, Gears of War, Infinity Blade, and other popular games. It achieved unicorn status following an investment from Chinese Internet giant Tencent. Other investors include Smash Ventures and KKR. Epic Games is currently valued at $15 billion.
8- SpaceX, $18.5 billion, US
SpaceX is a space transportation company founded by billionaire entrepreneur Elon Musk. Headquartered in Hawthorne, California, SpaceX aims to colonize Mars. According to the Wall Street Journal, SpaceX is in talks to raise $500 million in fresh funding from investors.
7- Stripe, $22.5 billion, US
Founded by brothers Patrick Collison and John Collison, Stripe is a platform that allows businesses and individuals to send and receive payments online. It achieved unicorn status in 2014. Its investors include Khosla Ventures, capitalG, and Lowercase Capital. Brothers Patrick and John Collison are among the world’s youngest billionaires.
6- Airbnb, $29.3 billion, US
Airbnb is a popular marketplace that connects people looking for accommodation with people renting out their homes. It doesn’t own any of the real estate listings. According to CB Insights, Airbnb commands a valuation of $29.3 billion. Some of its notable investors include Andreessen Horowitz, actor Ashton Kutcher, and General Catalyst Partners.
5- JUUL Labs, $38 billion, US
JUUL Labs is an electronic cigarette company headquartered in San Francisco. It is the most popular electronic cigarette brand in the United States with a market share of above 70%. It was originally part of Pax Labs. It has received investments from Tiger Global Management, Tao Capital, and Fidelity Investments.
4- WeWork, $47 billion, US
Founded in 2010 in New York City, WeWork provides shared workspaces to small businesses and individuals. Earlier this year, WeWork rebranded itself as The We Company as it prepares to go public. CNBC reported on April 29, 2019 that The We Company has confidentially filed for an IPO. It posted a loss of $1.9 billion on revenues of $1.8 billion in 2018. It commands a valuation of $47 billion.
3- Didi Chuxing, $56 billion, China
Didi is the largest ride-hailing company in China. It also provides food delivery and bike sharing services to users. It is the world’s third most valuable unicorn startup with a valuation of $56 billion. Some of its biggest investors include SoftBank, Tiger Global Management, and Matrix Partners. Didi has invested in several other ride-sharing companies around the world including Lyft, GrabTaxi, Ola, Uber, and Careem.
2- Uber, $72 billion, US
Uber has been the most valuable unicorn startup company in the United States for years. It provides ride-sharing, food delivery, and bicycle-sharing services. Its largest investors include SoftBank, Benchmark Capital Partners, Google parent Alphabet, and the Public Investment Fund of Saudi Arabia.
1- Bytedance, $75 billion, China
You might have never heard of Beijing-based Bytedance, but it has dethroned Uber as the world’s most valuable unicorn startup. It was valued at a little above $75 billion in its latest funding round. Bytedance is the company behind the insanely popular TikTok app, which is racking up more downloads than Facebook and Instagram in many countries. However, Bytedance’s main product is the news aggregator app Jinri Toutiao, which uses AI algorithms to track reader habits and deliver relevant content.