Top 10 Most Valuable Unicorn Companies In 2024

Uzone.id — In this dynamic world of startups, unicorns and decacorns — companies valued at over USD 1 billion and USD 10 billion — are rare to find and maintain. Coined by American venture capitalist Aileen Lee in 2013, unicorn is a reflection of startups success.

As of July 2024, Indiana Express reports that there are 1,453 unicorns in 53 countries and 291 cities globally. Some of the most popular former unicorns include hit names such as Airbnb, Facebook, and Google.

Wanna know more about these giant startups? Let’s take a slide into the top 10 most valuable unicorn companies, their industries, and the trends driving their success. 

ByteDance  

Chinese app company, ByteDance is on the top of the list. For you who aren’t familiar, ByteDance is the parent company of TikTok, Capcut and Lemon8.

Visual Capitalist stated that ByeDance valuation reaches USD225 billion per 2024. This Chinese app is known for its addictive short-form videos like Douyin and TikTok. Not only has it become the most valuable tech company, ByteDance also is a trendsetter and has revolutionized content creation. However, its future remains uncertain for TikTok due to increasing regulatory pressure, especially in markets like the U.S. and India.

SpaceX  

Elon Musk’s tech company SpaceX is the 2nd highest valuable company with a valuation close to USD 150 billion. 

SpaceX is a pioneer of private space exploration. This tech giant has successfully launched reusable rockets and brought humans one step closer to across-planet travel. SpaceX is also popular with Starlink that’s gaining global traction.

Not only has the 2nd highest valuable company, Elon Musk also has another popular company, such as Tesla, X, and Neuralink.

OpenAI  

Artificial intelligence is ruling the world for now and thanks to OpenAI, they launched ChatGPT to the world and become a bomb in the tech industry. In 2024, Visual Capitalist said that OpenAI holds a USD80 billion valuation and is ready to be a hectocorn startup.

AI becomes more integral to most industries in the world like healthcare, education, and finance, OpenAI’s tools are gaining widespread adoption. 

Shein  

Shein, a Chinese e-commerce platform valued at USD66 billion and become the 3rd most valuable company in the world. This platform is known for its ultra-fast production times and trendy designs, that’s why Shein has captivated Gen Z with affordable prices and its mobile-first shopping experience. 

Stripe  

Stripe is a fintech platform with USD 65 billion valuation. This app is the go-to payment processing platform for online businesses.

Stripe was founded by the Collison brothers, Patrick and John Collison in 2010. Stripe powers millions of businesses globally. It simplifies the way companies accept payments online, whether you’re running a small e-commerce store or a massive global enterprise. 

Databricks  

Valued at USD43 billion, Databricks is all about big data. The company helps businesses process and analyze massive datasets, unlocking new insights that drive innovation. With data now referred to as “the new oil,” Databricks is sitting on a gold mine. Their platform is widely used across industries, from tech to finance, helping companies make sense of the huge amounts of information they collect.

Revolut  

Revolut launched in 2015 offering a prepaid card and an app-only overseas payments service. Almost 9 years later, this app has a valuation of USD 33 billion. This British fintech offers everything from currency exchange to stock trading, all via a slick mobile app. 

Fanatics  

Fanatics rounds out the top 10 most valuable startups with a USD 31 billion valuation. This company is initially known for sports merchandise, Fanatics is also expanding into areas like NFTs and sports betting.

Canva  

The next one is Australian-based Canva and valued at USD25 billion, that makes Canva become the top 10 most valuable company right now.

Canva is all about democratizing design. This app became a Gen Z favorite because it’s easy-to-use tools to everyone, from startups to social media influencers. Design traditionally required expensive software and expert knowledge, but Canva has made it accessible to the masses. 

Epic Games

Last but not least, Epic Games, this company is one of the gaming giants right now. Epic Games is valued at around USD 32 billion as of 2024, making it one of the top 10 startups in the world. 

Epic Games is known for creating a hit game like Fortnite, one of the most popular video games globally. Not just a game, Epic Games success also comes from its innovative business model, like offering free-to-play games with in-game purchases, and their strong community of developers and gamers.