Unicorns are private companies with a net worth of $1 billion or more. We call these companies unicorns because they are rare just like the animal unicorn itself. The booming market and the revolution in technology have created new opportunities for startups. They are bringing forward unique business ideas and trying their luck. The interesting part is, you can start with any idea even if it pertains to online trading.
For your inspiration, here are 10 startups that reached the unicorn status:
Headquartered in San Francisco, California, Uber now operates in 570 cities worldwide. As we all know, Uber is a hailing car service. Its net worth is approximately $4.24 billion.
Airbnb, with a net worth of $29.3 billion, is a real estate marketplace to rent out rooms or an entire house. It doesn’t own these lodging, it’s just a broker that receives a commission from guests and hosts with each booking. It has been providing unique travel experiences to people at prices they like.
This $12 billion American aerospace manufacturer has its headquarters in California. It’s a venture of Elon Musk, who is among the richest people in the world. Along with manufacturing, SpaceX also launches rockets and spacecraft.
The company has a vision to transform space technology. Its goal is to enable people to live on other planets too. SpaceX has revolutionized transportation on not just earth but space too and now, its net worth is $20 billion.
#4: Xiaomi Technology Co. Ltd.
Xiaomi was founded in 2010. The company manufactures affordable smartphones and electronics. As per the 2018 public listing, it has the potential of reaching to the worth of $100 billion. Even though it’s market share declined in 2016 after expansion in Brazil, Xiaomi has still managed to revamp its sales.
#5: We Work
It’s a co-working space founded in 2013 in Washington D.C. It has already expanded into 20 countries. Its net worth is $20 billion.
Apart from invading new markets, We Work has acquired 5 organizations. These include FieldLens (a mobile communication service provider), Spacemob (a co-worker space based in Singapore), Unomy (a selling platform), Meetup (social group) and Flatiron (a programming school).
#6: Didi Chuxing
Founded in 2012, Didi Chuxing is Chinese Transportation Company. With a smartphone app, it connects users with taxis and vehicles. Its users exceed 450 million. The company has established partnerships with ridesharing leaders around the globe such as Uber, Lyft, 99, Careem, etc. its mission is to redefine mobility. It also plans to use AI to evolve transportation.
Founded in 2010, Stripe with its payment system processes billions of pounds for businesses across the globe. It’s operating in 23 countries so far. There is no need to step up an account to transfer funds. Companies such as ASOS, Kickstarter, and Twitter are already making use of Stripe’s services.
The founders of Stripe – Patrick Collison and John Collision are Irish brothers. They immigrated to the Silicon Valley for perusing careers in software. They came up with the idea of making online billing and payment easier for startups. Today, their business is worth $20 billion! Stripe’s valuation has doubled ever since its inception.
Pinterest is another popular name among the leading social networks. It lets you share and discover new interests by posting videos or images. It allows you to share anything about your lifestyle with others. You can also use this network to discover like-minded people. Pinterest started in 2010 and its current net worth is $5 billion.
“Today’s headlines” – that’s the literal meaning of Toutiao. It has turned out to be an emerging platform for creating and distributing content. It allows users to interact with content. The company uses machine learning to generate a tailored feed of content for its users. It’s, in fact, known as the leading content distribution channel in China when it comes to AI. It has over 1.1 million user accounts and 380,000 pieces of contents are updated on the platform so far.
#10: Snap Inc.
After one year of IPO, Snap got the attention of multiple analysts, investors, and advertisers. Due to strong user engagement, the share price of Snap received a significant boom. It debuted with a net worth of $3.4 billion in 2017.
From time and observation, it is seen that a startup has to wait for 6 years to become a unicorn. But there is always an exception. The market scenarios keep on changing. This presents opportunities for startups with new ideas to make their mark in a short time. There isn’t any set criterion to spot new unicorns in the market. However, there are always trends we can extract from the previous years. This information helps determine which startup is going to earn the designation of a unicorn. Joining the industry leaders isn’t always easy.