Amid reports that the prominent tech unicorn WeWork, once valued at $47 billion, has declared bankruptcy and 41 US states actively seeking lawsuits against Meta, many may be wondering the state of other unicorn companies across the globe.
The experts at FOREX.com were keen to uncover which countries and industries are most prolific in producing unicorn companies, through data obtained and analyzed from CB Insights.
FOREX.com commissioned research reveals that UK unicorn companies command a substantial combined valuation of 188.67 billion dollars, constituting 5% of the total valuation of unicorn companies worldwide. While the UK did not secure a spot in the top 3 in terms of the sheer number of unicorn companies, its unicorns demonstrate a higher average valuation than those in India, averaging at $3.63 billion.
The United States has the highest number of unicorn companies worldwide with an impressive 668 – over three times more than China in second place (172). Unicorn companies in the US have a combined valuation of over $2 trillion, accounting for over half (54%) of the total valuation of unicorn companies.
China has the second-highest number of unicorn companies, with a combined valuation of $641.67 billion, accounting for 17% of the total valuation of all unicorn companies in China. ByteDance – the parent company of TikTok – is the highest valued company in China and is valued at over $225 billion.
India ranks third with 72 unicorn companies. However, when examining the rankings of individual companies, the top spots are predominantly occupied by the United States and China. The first Indian company to make an appearance in these rankings is BYJU’s, which stands at 36th place with an impressive valuation of $11.50 billion.
The enterprise tech industry dominates unicorn companies, boasting a total of 377 with a combined valuation of just over $1 trillion.
The highest-valued company within the enterprise tech sector is Canva, with an impressive valuation of $40 billion. Canva has the fifth-highest valuation out of all global unicorn companies. Enterprise tech is projected to maintain its position as a leading industry, surpassing growth and total valuation projections by 2027.
Within the financial services sector, 216 companies boast a combined valuation of $706 billion. Stripe claims the title for the highest-valued company within financial services, valued at $50 billion and ranks fourth overall.
Despite having the same number of unicorn companies, those in the financial services industry have a 10% higher total valuation than the consumer and retail industry.
The consumer and retail industry ranks third (216), with a collective valuation of over $631 billion. The unicorn with the highest valuation within this industry is SHEIN, valued at $66 billion, ranking third globally. SHEIN is valued at $8.17b, higher than the combined valuation of all 27 unicorn companies in the insurance industry ($57.83b).