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10 Feb 2021 | 14:31

Unicorns globally now worth $1.7trn - Trading Platforms UK

(Sharecast News) - The valuation of the 528 unicorns worldwide reached $1.7trn as of January 2021, the latest data from Trading Platforms UK showed. Of that amount, the top ten unicorns accounted for 24.09% or $410bn.

China's AI company Bytedance is the most valued unicorn at $140bn. Vehicle hire company Didi Chuxing also from China, ranks second with a valuation of $62bn. United States-based SpaceX is third with a value of $46bn, Fintech firm Stripe is fourth with a $36bn valuation, followed by Roblox at $29.5bn.

According to the research report: "The top ten unicorns are primarily dominated by players from fintech, ride-hailing, logistics, and online video game sectors. These industries gained popularity last year during the pandemic as they helped people navigate the stay at home orders.

"The companies have capitalized on the newfound urgency of increased demand by ushering in new clients, and investors resulting in high valuations. Furthermore, the pandemic gains have contributed to the velocity by which many of these brands gained more value."

The report said that it was to be expected that more companies would be boosted towards unicorn status in 2020 due to the latest wave of digitization.
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