Between 2003 and 2013, only 39 companies across the world breached the USD 1 billion valuation threshold, earning the elusive title of unicorns. 73% of these companies were US-based.
Today, the world counts 586 unicorns, with the US and China accounting for 80% of these companies. China, in particular, has increased its number of unicorns from 43 in 2016 to 265 in 2020. These firms have reached an aggregate valuation of USD 1.33 trillion, about twice that of US unicorns.
Several years of rapid tech development and adoption in China have produced giants like Baidu, Alibaba, and Tencent, collectively known as the BATs, but with newcomers such as ByteDance or Didi Chuxing, many analysts are wondering what’s coming next in the local tech ecosystem.
For those trying to understand an integral part of China’s new economy and the companies paving the next wave of innovation, here is a snapshot of the current generation of Chinese unicorns and the potential unicorns to look out for in 2021.
Apply now for the China Market Intel 2020. The report will be mailed to you on Tuesday, December 22.
Contents of the report include:
- Ranking of China’s top 100 unicorns.
- A breakdown of China’s top 5 unicorns in 2020 — ByteDance, Didi Chuxing, SenseTime, Perfect Diary, and Yuanfudao — including their milestones, business model, and an assessment of key metrics.
- Macro view of the unicorn and venture landscape in China. Including distribution of the unicorns’ value, top industries, key VCs, demographic analysis of leading entrepreneurs, and more.
- A free seat to Magnify China 2020, our virtual recap of China’s venture landscape with a look into the healthcare, education, enterprise solutions, and consumer industries.