The chances for entrepreneurs to succeed in this day and age are higher than ever before. Such prospects also bring immense competition between startups to become successful enough to last in the market. Starting a business is no easy feat. It takes plenty of drive and determination to ideate a vision for your company and work towards making it a success. Given that the market is highly favorable for startups right now, it comes as no surprise that many such companies have emerged immensely successful in becoming financially sound.
In the world of finance, a ‘unicorn’ is a privately held startup that has a current valuation of $1 Billion or above. A recent report from CB Insights suggests that there are over 400 unicorn companies in the world as of May 2020. Out of these, about 24 companies have marked a valuation of over $10 Billion, giving them the title of ‘decacorns.’ These amazing figures only go on to show the massive influence startups have in the market.
Here is a list of the current highest-valued startups in the world. Read on.
Startups with the most value
1ByteDance – China – $75 Billion
The highest valued company in the world right now is the Chinese startup ByteDance, the parent company behind the successful TikTok and TouTiao. In the past year, TikTok has become immensely popular amongst people of varied age groups and has currently surpassed Facebook and Instagram for grabbing the highest number of downloads. Toutiao, on the other hand, is a news aggregator app, which was designed using AI algorithms that track the user’s reading habits and optimize content based on the same. The investors behind ByteDance include Sequoia Capital China, KKR, and SoftBank.
2Didi Chuxing – China – $56 Billion
The coveted second spot on the list is secured by yet another Chinese company, which happens to be the country’s leading online-to-offline startup. Didi Chuxing provides its users with food delivery, ride-hailing, and bike-sharing services, and is available to millions of people all across China and other countries as well. The company’s major investors include Tiger Global, Matrix Partners, and SoftBank.
3Stripe – U.S.A. – $36 Billion
Stripe found its success as an online payment platform that allows users (individuals and businesses) to send and receive payments through its services. The investors behind Stripe are CapitalG and Khosla Ventures. Interestingly, the Collison brothers, who are the founders of Stripe, also find themselves on the list of the world’s youngest billionaires.
4SpaceX – U.S.A – $33.3 Billion
This well-known venture belongs to the popular billionaire Elon Musk. The startup was founded in 2002 and achieved ‘unicorn’ status by the year 2012. The venture is a space transportation company, and one of its more popular missions in recent times has been to colonize planet Mars. SpaceX shows immense potential, mostly due to its low cost of rocket launches, which was possible by landing the rockets vertically. The major investors behind SpaceX are Rothenberg Ventures and Founders Fund.
5AirBnB – U.S.A – $18 Billion
While this successful travel and vacation rental business has secured number 5 on this list, the uncertainties revolving around the COVID-19 pandemic have surely raised some doubts. The company’s valuation dropped from a staggering $31 Billion last year to the current $18 Billion in its latest funding round.
6Kuaishou – China – $18 Billion
Kuaishou, the Chinese short video sharing platform, ties with AirBnB on this list by reaching a current valuation of $18 Billion. The platform currently has over 200 million active users, as well as some serious rivalry with TikTok, another Chinese success. The company successfully reached the ‘unicorn’ status way back in 2015. Just like ByteDance, the major investor in Kuaishou is Sequoia Capital, along with Baidu.
7One97 Communications – India – $16 Billion
The only name from India on the list of top 10 highest valued startups is One97 Communications, a popular payment service provider, which operates under the name Paytm. The subsidiary was founded in 2010, and in just five years, achieved the ‘unicorn’ status. The major investors for this venture are Alibaba, Intel Capital, Ant Financial, and Berkshire Hathaway. Currently, the business also operates Paytm Payments Bank and Paytm Mall.
8Epic Games – U.S.A – $15 Billion
Epic Games is a name that is highly popular amongst the younger generation. The success behind this gaming developer lies behind popular releases like Fortnite, Infinity Blade, and Gears of War. The major investors in Epic Games are KKR, Smash Ventures, and Tencent Holdings.
9DJI Innovations – China – $15 Billion
This leading producer of consumer drones and action cameras holds a superior position in the global civilian drone industry with more than 70% market share. The photography and videography company was founded 14 years ago and has products that are used heavily by the music, film, and TV industry, as well as militaries and police forces.
10Grab – Singapore – $14.3 Billion
Grab is a popular food delivery and ride-sharing app based out of Singapore but finds plenty of engagement from users in Indonesia, Malaysia, Myanmar, Vietnam, and Thailand as well. Grab holds the title of being Southeast Asia’s first-ever startup to hit $10 Billion in valuation. Interestingly, Uber holds a 28% stake in Grab.
Conclusion
So, here’s the list of the top 10 highest-valued startups in the world as of today. Of course, times are changing rapidly, and with the current pandemic in full effect, businesses are bound to be affected. Hopefully, such setbacks don’t deter future entrepreneurs from developing ideas that can positively change our daily lives.
