Top 10 most valuable tech Unicorns
We take a closer look at the top 10 most valuable technology Unicorns, as collated by CBInsights.
10 | Grab
The only Southeast Asian company on this list, Grab began as a taxi-hailing application. It has since expanded into a number of different fields, adopting a ‘super app’ approach as it provides services such as digital payments as well as food and parcel delivery and more. Its great regional rival is Gojek, with the two battling for market control as they introduce new services to gain the upper hand.
9 | DJI Innovations
The Shenzhen-based DJI Innovations is a technology manufacturer particularly active in the unmanned aerial vehicle (AKA drone) space. It is the world’s dominant drone manufacturer, and in 2017 fully acquired Swedish photographic equipment manufacturer Hasselblad to bolster its professional video offering.
8 | Epic Games
Video game developer Epic Games was a fairly ordinary video game developer from its founding in 1992 to its release of Fortnite Battle Royale. Although it had developed hit series such as Unreal and Gears of War, the release of Fortnite Battle Royale brought stratospheric success, leading it to expand into other areas including a digital storefront known as the Epic Games Store.
7 | One97 Communications
One of only two non-Chinese or American companies on this list, One97 Communications is anomaly thanks to its lack of a digital presence. The Indian firm’s main claim to fame lies in commerce payment subsidiary Paytm, with which it shares a CEO in Vijay Shekhar Sharma. Paytm also has significant investment from Japan’s SoftBank and Alibaba Group. Paytm offers small merchants in India the capability to receive payments via its smartphone app.
6 | Kuaishou
One of two Chinese video apps on this list, Kuaishou allows for the recording and sharing of videos. As of 2019, there were more than 200 million daily users. It’s most prominent investor is Chinese internet technology giant Tencent, which has led a number of funding rounds bringing it to a total of $4.4bn raised. The latest Series F round alone saw $3bn raised, with a future US listing a distinct possibility.
5 | Airbnb
Airbnb took the long-established institution of the bed and breakfast, and turned it into an app. The San Francisco-based company acts as an online marketplace for arranging lodging for travelers. Airbnb is not escaping unscathed from the current Coronavirus pandemic, with tourism suffering due to borders closing, flights being cancelled and a general unwillingness to travel.
4 | Stripe
US-based fintech firm Stripe serves as a payment gateway for sending and receiving money. Having gotten its start with assistance from the Y Combinator startup accelerator, the company has since raised a total of $1bn across 11 funding rounds. The company was founded in 2009 by two Irish brothers, Patrick and John Collinson, who were around the age of 20 at the time. Today, John serves as President, while Patrick is CEO.
3 | SpaceX
Elon Musk’s SpaceX certainly doesn’t lack ambition. Having been founded by the entrepreneur in 2002, the company’s ambition is to be at the forefront of a private spaceflight revolution. The company has made significant strides since its founding, with recent achievements including the beginnings of a not uncontroversial constellation of internet-providing satellites known as Starlink. Along with Boeing, the company is also involved in NASA’s Commercial Crew Development programme to fly astronauts to the International Space Station on private rockets.
2 | DiDi
Continuing the trend of Chinese dominance in the world’s best funded startups, DiDi is a transportation technology company. Having acquired Uber’s Chinese business in 2016, DiDi offers services such as ride-hailing, delivery and other services associated with the peculiarly Asian trend of the ‘super app’. DiDi is increasingly involved in the automated vehicle space, with robotaxi testing already taking place in Chinese locations such as Shanghai.
1 | ByteDance
With a valuation of some $75bn, China’s ByteDance might be seen by some as a surprising entrant at number one. The internet technology company is not a household name, though its main product TikTok certainly is. Based on ByteDance’s similar Douyin app exclusively for the Chinese market, the short form video sharing social network program is wildly popular among the world’s younger denizens.