Inside the Billion Dollar Startup Club: Top 5 Fastest Unicorns in the World Today
Unicorns are defined as startup companies that are valued at $1 billion or more. It takes a lot to reach the unicorn level, yet some companies have done it faster than the rest.
Here are the top 5 unicorns in the world today, according to the Business Insider.
Slack is a communication app geared for the business people. In just less than two years, Slack was able to enjoy mad growth and is believed to reach around $30 million yearly sales. It took Slack 1 and 3 months to reach a valuation of $1 billion. As of today, it is valued at $2.8 billion.
Groupon is an e-commerce site that connects subscribers to local merchants through travel, activities, goods and services and caters to different countries worldwide. At present, the company says that they have 48.6 million active customers and is valued at $2.82 bn. Groupon reached the $1 billion valuation in a little less than 18 months.
The company works in making the Internet more efficient and reliable for its subscribers. It is said to handle more than 2 trillion interactions on the web every day. Its present valuation is $13 billion and it took 1.6 years to gain a unicorn status.
This Chinese smartphone manufacturer is known for its huge fan base. Not only is Xiaomi associated with smartphones but they also sell other electronics such as cameras and TVs. It took the company 1.71 years to become a unicorn and as of now, it is valued at $46 bn.
The company is involved in building technology that is used in data centers and cloud networks. It was known to first get in the business in 1999 but after more than ten years, its value went down to almost a quarter its initial valuation of $1.1 bn in 2001. In other words, the company gained the unicorn status after only 2 years of operation.