This article is by: Strategy Business
Read more about it here: China’s herd of unicorns
An excerpt from Strategy Business:
"The standard definition of a unicorn is a privately held startup valued at more than $1 billion. Currently, when people think of Chinese unicorns, they think of the handful of companies that have risen to global status in two decades or less: companies such as Alibaba, Baidu, JD.com, and Tencent. Since these few are already valued at $10 billion or more, they are now known as “superunicorns.”
Many more Chinese unicorns are coming up behind them, still relatively unknown because they currently operate only within China, which is large enough to sustain them for some time. But sooner or later, many of this second wave of Chinese unicorns will grow into global industry giants.
In China, as the Internet era has transformed business, unicorns have been created at an accelerating rate. Only the U.S. has as many as China. According to the May 2019 Greater China Unicorn Index from Shanghai-based research firm Hurun, there are currently more than 200 such companies in China, 21 of them having entered the ranks in the first quarter of 2019 — almost one per week. "
Your On-the-Ground People in China.
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