Ninety-four Chinese entities have reached unicorn status, led by ByteDance, the world’s most valuable private company valued at $75 billion.
Following Bytedance, Didi ($56B), Bitmain Technologies ($12B), DJI Innovations ($10B) and Chehaoduo ($7B) were the top five Chinese companies in the list created by CB Insights, covering areas like media, transportation, hardware and e-commerce.
China came in second place with 29 percent in terms of geographic shares of unicorns.
Last year, among the 119 new companies that joined the global unicorn club, 37 were Chinese companies. These billion-dollar companies are valued totally at $84 billion dollars, led by Beijing-based Bitmain Technologies. Areas they operate in include media, healthcare, transportation, and education.
“China is rapidly becoming the land of the unicorns,” CB Insights said.
There are 326 private companies around the world valued at more than $1 billion, with a collective worth of nearly $1.1 trillion and have raised a combined total of over $271B.
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