CHART: A Look at the Most Valuable Startups in 2024
The unicorn landscape is rapidly evolving, with companies in the U.S. and China leading the charge.
In the fast-paced world of tech startups, one creature stands out above all—a unicorn. No, not the mythical horse with a horn, but something equally rare, a privately-held company valued at over $1 billion.
The term "unicorn" coined by Aileen Lee, founder of Cowboy Ventures itself is a nod to the improbable odds of building such a company and its rarity.
Yet, what was once a rare achievement has now become a more frequent occurrence. According to Hurun Research, there are currently 1,453 unicorns scattered across 53 countries and 291 cities.
Also several variations of the term have emerged to describe even larger companies. Startups valued at over $10 billion are referred to as Decacorns, while those surpassing $100 billion are called Hectocorns. In fact, some companies like Airbnb, Facebook, Google, once unicorns have moved beyond mere unicorms to become global giants outpacing even established corporations.
No place better exemplifies this unicorn magic than Silicon Valley, San Francisco Bay Area, which remains the world’s leading hub for unicorn startups. In fact, the United States is home to six of the world’s 10 most valuable unicorns, further solidifying its position as a powerhouse of technological and entrepreneurial innovation. Following the U.S., China has emerged as the next major homes for these high-value startups.
While the United States has the highest number of unicorns, China surpasses it in terms of the market value of its unicorns. Chinese firms tend to grow into some of the largest and most valuable companies in the world.
