what does mean by Unicorn startups?
The startups privately holding valuation over $1 billion, they are the unicorn startups. The term was coined in 2013 by venture capitalits Aileen Lee choosing the mythical animal to represent the statistical rarity of such successful ventures. Decacorn is a word used for those companies over $10 billion, while hectocorn is used for such a company valued over $100 billion.
These are the top 5 Unicorns in 2021
1. Ant Group
Ant Group formerly known as Ant Financial with valuation of US $150 billion and Alipay, is an affiliate company of the Chinese Alibaba Group. The group owns China’s largest digital payment platform Alipay, which serves over one billion users and 80 million merchants, with total payment volume (TPV) reaching CN¥118 trillion in June 2020. In March 2019, The wall street journal reported that Ant’s flagship Tianhong Yu’e Bao money-market fund was the largest in the world, with over 588 million users, or more than a third of China’s population, contributing cash to it.
ByteDance Ltd. is a multinational internet technology company headquartered in Beijing and legally domiciled in the Cayman Islands. It was founded by Zhang Yiming in 2012. ByteDance is reportedly worth over US $100 billion as of May 2020.
ByteDance’s core product, Toutiao (“Headlines”), is a content platform in China and around the world. Toutiao started out as a news recommendation engine and gradually evolved into a platform delivering content in various formats, such as texts, images, question-and-answer posts, microblogs, and videos.
Space Exploration Technologies Corp. (SpaceX) is an American aerospace manufacturer and space transportation services company incorporated with valuation of US $74 billion in Delaware and headquartered in Hawthorne, California. It was founded in 2002 by Elon Musk with the goal of reducing space transportation costs to enable the colonization of Mars. SpaceX has developed several launch vehicles and rocket engines, as well as the Dragon cargo spacecraft and the Starlink satellite constellation (providing internet access), and has flown humans and cargo to the International Space Station on the SpaceX Dragon 2.
Didi Chuxing Technology Co. formerly named Didi Dache and Didi Kuaidi is a Chinese vehicle for hire company with valuation of US $51.6 billion headquartered in Beijing with over 550 million users and tens of millions of drivers. The company provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing and bike sharing; on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging and co-development of vehicles with automakers.
Stripe is an Irish-American financial services and software as a service (SaaS) company with valuation of US $36 billion dual-headquartered in San Francisco, California and Dublin, Ireland. The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.
Irish entrepreneur brothers John and Patrick Collison founded Stripe in 2010, initially using the name /dev/payments. In 2011, the company received investment of $2 million including from from PayPal co-founders Elon Musk and Peter Thiel, and venture capital firms Sequoia Capital, Andreessen Horowitz, and SV Angel.