The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
The Race To $1 BILLION
Unicorns are rare beasts in the business world; private startup companies with a valuation of $1billion or higher. Those including the likes of Uber, Airbnb, WeWork and Deliveroo.
We currently see 237 unicorn companies across the globe; all founded in just 24 (12.3%) of the world’s 195 countries.
These high-value startups have some fantastic stories to tell; and we wanted to take a dive into the data behind the unicorns…
The Speed Of A Unicorn; research released today by Compare the Market, has revealed that, on average, it takes 7 years from launch to reach a $1billion valuation.
Impressively, however, 15 of those currently holding unicorn status achieved this in less than a year!
There’s a good chance you’ve never heard of these high-speed unicorns, however – with names such as BeiBei, iCarbonX, Uptake and Xiaomi on this list.
The study explores the stories behind the world’s most successful startups, looking into sectors, birthplaces, the years in which the companies reached unicorn status and in which they were founded.
• It takes, on average, 7 years from launch to become a unicorn.
• The most common year in which unicorns were founded is 2012.
• 2017 saw the most startups become unicorns; 65 in total.
• It is predicted that we’ll see 60 companies reach a $1billion valuation in 2018.
• Only four countries worldwide (USA, China, UK & India) have 10 or more unicorn startups.
• Startups from the Netherlands and Israel reach this valuation the quickest at 5 years.
The full research can be seen here: https://www.comparethemarket.com/business-insurance/content/speed-of-a-unicorn/