Chinese Bytedace and American Space X are top on the list of global Unicorn startups worth over $1 billion in valuation and which recently hit 1,000.
This is according to a report by CB Insight which detailed global billion-dollar private companies.
In aggregate, these companies jumped 70% in 2021 on the back of record venture funding across industries to hit a valuation of nearly $3.3 trillion.
Key highlights of the report
- Only two companies; Bytedance and Space X have hit hectocorn status, with valuations of over $100 billion and another 46 companies boast decacorn (over $10 billion) valuations, while roughly 31% of unicorns are valued at exactly $1 billion.
- Fintech is the largest category for unicorns, accounting for roughly 1 in every 5 unicorns (21%). It is followed by internet software & services (18%), then e-commerce & direct-to-consumer (11%).
- The United States is home to the majority of unicorns (51%), followed by China (17%) and India (6%).
- Total number of world billion dollar companies moved from 269 in 2017 to 563 in 2020. The figure however jumped to 959 in 2021 also improving in 2022 to reach 1,000.
- The longest-standing members of the global unicorn club are: Veepee; a france-based online retailer, Vice Media; an international media company, Klarna; a Swedish fintech, Trendy Group International; a Hong Kong-based fashion conglomerate and Fanatics; an online sportswear and sports equipment.
- Nigerian startup, Opay was valued at $2 billion while other startups associated with Africa like Flutterwave and Andela were respectively valued at $1 billion and $1.5 billion.