Unicorns are private companies with a valuation of $1 billion or more. There are more than 500 unicorns globally, but not all exhibit the same growth potential. As with any other company, the best unicorns are those that exhibit the maximum growth potential. So, keeping track of such companies is crucial as they represent potential future investments. If you want to know more about them, then detailed below are the ten fastest growing unicorns.
Ten Fastest Growing Unicorns
Our list of the ten fastest growing unicorns is based on the data from techstartups.com, which used value added by these companies per day since they joined the unicorn list. Following are the ten fastest growing unicorns:
Yarra Square Partners returned 19.5% net in 2020, outperforming its benchmark, the S&P 500, which returned 18.4% throughout the year. According to a copy of the firm's fourth-quarter and full-year letter to investors, which ValueWalk has been able to review, 2020 was a year of two halves for the investment manager. Q1 2021 hedge fund Read More
Instacart ($3.6 million)
Founded in 2012, it is a leading American online grocery delivery service. Instacart offers same-day delivery and pickup services of groceries and everyday essentials for families across the U.S. and Canada. Instacart says its service is available to 85% of U.S. households and 70% of Canadian households. It has a mobile app and a website that enables users to order groceries from participating retailers.
Niantic ($4 million)
Founded in 2011, it is a leading AR technology company. Niantic was formed at Google in 2011 and in 2015, it became an independent company. The company boasts of a strong group of investors, including Nintendo, The Pokémon Company and Alsop Louie Partners. Niantic is known for developing several popular augmented reality mobile games, including Ingress, Pokémon Go, and Harry Potter: Wizards Unite. The company has offices in Tokyo, Hamburg, San Francisco, Sunnyvale, Zurich, Bellevue, Los Angeles and London.
Compass ($4.5 million)
Founded in 2012, it is a real estate technology company. The company provides software to real estate agents, and is the first company to develop a proprietary mobile app for real estate agents. Compass is headquartered in New York City. It was named among Glassdoor's Best Places to Work in 2018 and won a Webby Award for Best Real Estate Website in 2019. In 2020, Compass won Webby People’s Voice Award for Real Estate in the web category.
Impossible Foods ($4.9 million)
Founded in 2011, it is a U.S. company that develops plant-based substitutes for meat products. The company’s most popular product is the Impossible Burger, which was launched in 2016. In July of last year, the Impossible Burger patties were made available at Trader Joe's and several Walmart locations across the U.S. In August of last year, Impossible Foods raised $200 million in an internal round led by Coatue, which is an existing investor.
Robinhood ($6.9 million)
Founded in 2013, it is an American financial services company. The company has a mobile app and website that enables users to invest in stocks, ETFs, and options through Robinhood Financial. It also allows crypto trading through Robinhood Crypto. Robinhood operates entirely online and has no storefront branches. It allows commission-free trading. Robinhood’s revenue comes from three sources – margin lending, selling order information to high-frequency traders and interest earned on customers' cash balances.
Monday.com ($7.1 million)
Founded in 2012, it is an Israeli project management tool. This tool allows companies to manage tasks, projects and team work. It won the 2020 Webby Award for Productivity in Apps, Mobile & Voice category. Monday.com claims to have 100,000 organizations as clients. This productivity tool is customizable to fit a range of business operations, such as HR, marketing, IT and more.
Coinbase ($8.2 million)
Founded in 2012, it is a digital currency wallet platform. It allows users to easily transact digital currencies, such as bitcoin, ethereum, and litecoin. Coinbase is the biggest and most popular U.S. cryptocurrency exchange. In December, the company filed its confidential form with the SEC. It has 35 million customers, and in 2018, it was valued at $8 billion. Coinbase is headquartered in San Francisco, California.
Scopely ($20 million)
Founded in 2011, it is an American mobile games developer and publisher. The company has several top-grossing, award-winning franchises, including WWE Champions, Scrabble GO, MARVEL Strike Force, The Walking Dead: Road To Survival, YAHTZEE With Buddies, Star Trek Fleet Command, Looney Tunes World of Mayhem, Wheel of Fortune: Free Play and more. Scopely was named in Fast Company’s "World’s Most Innovative Companies" and number two on Deloitte’s "Technology Fast 500."
Epic Games ($34.7 million)
Founded in 1991, it is an American video game and software developer and publisher. The company is also a provider of 3D engine technology. Epic developed the Unreal Engine, which powers some of the world’s leading games. Moreover, the Unreal Engine is used in other industries as well, such as film and television, architecture, automotive, manufacturing and simulation. Epic also operates the world’s biggest game, Fortnite. The game has more than 350 million accounts and 2.5 billion friend connections.
JUUL Labs ($68.7 million)
Founded in 2015, it is an American electronic cigarette company. In Dec. 2018, Altria Group acquired a 35% stake in JUUL Labs for $12.8 billion. The company claims that its product helps users quit smoking cigarettes. However, it is facing allegations that its product pushes kids toward vaping. JUUL Labs claims that its customer base is the world’s one billion adult smokers.