Technology
The 57 Startups That Became Unicorns in 2017
57 New Unicorns in 2017
Collectively, they’re now worth $116.5B
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
For a startup, reaching the coveted $1 billion unicorn valuation is an important milestone – but as we’ve found out in recent years, it’s not necessarily a guarantee of future success.
In 2017, there were 57 startups that crossed the unicorn threshold, and they range from well-known companies, such as Reddit or Quora, to rapid-risers like China’s Toutiao (now valued at $20 billion), which has seemingly come out of nowhere.
Investors have conviction that these companies will provide the platforms and products of the future, and they are placing big bets on them to deliver.
Will they live up to the hype, or will they ultimately end up in the unicorn graveyard?
Unicorn Births by Year
With 57 new unicorns, this year ranks third overall in terms of births per year.
Year | # of Unicorns | Notable Unicorn Birth |
---|---|---|
2009 | 5 | BloomEnergy |
2010 | 6 | Groupon |
2011 | 15 | Airbnb |
2012 | 13 | |
2013 | 20 | Uber |
2014 | 62 | Slack |
2015 | 81 | Vox Media |
2016 | 43 | Compass |
2017 | 57 |
While 57 unicorns in 2017 is still a high number, it’s also clear that the froth has died down from the unicorn bonanza that occurred in 2015.
Venture capitalists have clearly dialed it down a notch, re-focusing on the selective quality of investments rather than the overall quantity of big bets.
Notable Unicorns in 2017
Based on data from PitchBook, we’ve included the full list of unicorns in the chart today.
However, here are some that caught our eye:
Toutiao (China)
Valuation: $20 billion
Founded in 2012, Toutiao is the behemoth on this year’s new unicorn list. Based in Beijing, Toutiao is a news and information platform that focuses on recommendations using AI technology. The company pushes content to users based on previous user interactions as well as the detailed analysis of new content. The platform has 120 million active users and has also gone on a recent buying spree, acquiring names like Flipagram and Musical.ly.
Coinbase (United States)
Valuation: $1.6 billion
The cryptocurrency sector is exploding with growth, and Coinbase has been along for the ride since 2012. The most important crypto platform in the U.S. has such a strong influence in the sector, that the “Coinbase Effect” is now a talking point for traders everywhere. Whenever Coinbase introduces a cryptocurrency to its base of 10 million users, the added visibility and liquidity can make the price go bananas. It’s happened with Litecoin and Bitcoin Cash so far, and now every move by Coinbase is closely tracked by crypto power users and influencers.
Alisports (China)
Valuation: $1.0 billion
Alibaba’s foray into sports isn’t going unnoticed. In conjunction with Sina Corp (a Chinese telecom) and Yunfeng Capital Co (venture capital), Alibaba hopes that Alisports will carve out a huge chunk of the RMB 5 Trillion Chinese sports market. It’s also worth noting that Alisports sees e-sports as having huge potential, and as a central piece of its platform.
Technology
Visualizing Internet Usage by Global Region
In this infographic, we map out internet usage by global region based on the latest data from the World Bank.
Visualizing Internet Usage by Global Region
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Digital technologies have become an integral part of our daily lives, transforming communications, business, health, education, and more. Yet, billions of people around the world are still offline, and digital advancement has been uneven.
Here, we map internet usage by region based on data from the World Bank’s Digital Progress and Trends Report 2023.
Digitalization Has Been Uneven
According to the World Bank, between 2018 and 2022, the world gained 1.5 billion new internet users.
In 2020 alone, the share of the global population using the internet increased by 6% (500 million people), marking the highest jump in history. India, in particular, has seen high rates of adoption. For example, in 2018, only 20% of Indians used the internet. By 2022, this percentage had grown to more than 50%.
Region | Individuals using the internet (% of population) |
---|---|
East Asia & Pacific | 74 |
Europe & Central Asia | 87 |
Latin America & the Caribbean | 76 |
Middle East & North Africa | 77 |
North America | 92 |
South Asia | 42 |
Sub-Saharan Africa | 34 |
However, the progress of digitalization has been uneven both within and across countries.
In 2022, one-third of the global population remained offline, with parts of Asia and Africa still experiencing very low rates of internet usage. For instance, more than half of businesses in Burkina Faso, Ethiopia, Ghana, and Senegal reportedly lack internet connection.
According to the World Bank’s report, when fast internet becomes available, the probability of an individual being employed increases by up to 13%, and total employment per firm increases by up to 22%. Moreover, firm exports nearly quadruple with the availability of fast internet. Across Africa, 3G coverage has been associated with a reduction in extreme poverty, with reductions of 10% seen in Senegal and 4.3% in Nigeria.
Curious to learn more about the internet? Check out this animated chart that shows the most popular web browsers since 1994.
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