Thanks Anand Sanwal for this amazing article from CB Insights market map sorts unicorns into 15 categories, from auto & transportation to supply chain & logistics. Our “Other” category includes renewable energy, space tech, ad tech, and more.
Data is as of 9/29/2021.
Most valuable private companies
The world’s most valuable private company is China-based ByteDance, in the artificial intelligence category. The company, which operates content platforms such as TikTok and Toutiao, reached a $140B valuation following an investment from Tiger Global Management in March 2020.
The company raised a private equity round from China Internet Investment Fund in August 2018.
Rounding out the top 5 most valuable private companies are payments processor Stripe (valued at $95B), aerospace manufacturer SpaceX ($74B), payments platform Klarna ($45.6B), and collaborative online design tool Canva, which recently reached a $40B valuation following a $200M Series G round in September 2021.
Notably, ride-hailing company Didi Chuxing, which used rank in the top 5 unicorns at a valuation of $62B, went public in an IPO in June 2021.
Unicorn company trends by category
Fintech is the most highly represented category on our map, accounting for almost a fifth of all unicorns (19%).
It is followed by internet software & services (17%), e-commerce & direct-to-consumer (11%), and artificial intelligence (9%).
The most valuable fintech unicorn is Stripe, with a $95B valuation as of March 2021.
In internet software & services, the most valuable unicorn is Canva ($40B, September 2021).
In e-commerce & direct-to-consumer, the top spot goes to Fanatics ($18B, August 2021), which provides e-commerce, marketing, and merchandising for professional sports leagues and teams. ByteDance ($140B, March 2020) leads the artificial intelligence category.
Valuation distribution
ByteDance is the only private company considered to be a “hectocorn” (worth $100B+) — though Stripe is approaching hectocorn status, at $95B.
Thirty-eight private companies (4% of total unicorns) are considered “decacorns,” worth $10B+. Meanwhile, 24% of companies included in the global unicorn club are valued at exactly $1B.
Geographic trends
Since our last analysis in June 2021, the US has seen a slight decrease in its leading share of unicorns, now accounting for half of all unicorn startups (down from 51%). China, in second place (20%), held steady in the same time frame.
India claims the third spot at 5%, while the UK is home to 4% of unicorns.
Unicorn club growth
Seventy-one percent of the companies in the market map have joined the unicorn club since 2019.
Since CBInsight last analysis in June 2021, the unicorn club has grown in size by 16%, from 728 to 842 unicorns.
At this rate, the unicorn club is likely to break 1,000 by early 2022.
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