Fortune - USA (2021-10 & 2021-11)

176 FORTUNE OCTOBERNOVEMBER 2021

RIDING THE UNICORN’ BOOM

BACK IN 2015, FORTUNE PUBLISHED A COVER STORY on the soaring number of “unicorns,” or pre-IPO startups, valued at $1 billion or

more. At the time, there were more than 80 such private companies. That figure seems quaint today. According to the latest data from

startup-tracker CB Insights, there are now 832 unicorns globally, including 416 in the U.S. And the pace of unicorn creation has been

accelerating as flush venture capital investors compete for stakes in the most innovative companies: A total of 136 startups achieved uni-

corn status in Q2 of 2021 alone, more than in all of 2020. Are we reaching bubble territory? “There will be some companies that are over-

valued,” acknowledges Anand Sanwal, CEO of CB Insights. But for now, the magical appeal of unicorns endures. —JESSICA MATHEWS

THE CARTOGRAPHER

INFOGRAPHIC BY NICOLAS RAPP SOURCE: CB INSIGHTS

FINTECH

INTERNET SOFTWARE & SERVICES,

CYBERSECURITY

E-COMMERCE & DIRECT-TO-CONSUMER,

CONSUMER & RETAIL, TRAVEL

ARTIFICIAL INTELLIGENCE HEALTH

SUPPLY CHAIN, LOGISTICS, & DELIVERY OTHER NUMBER OF UNICORNS

0

200

400

1

600

800

2021

832

2007

AUTO & TRANSPORTATION

BYTEDANCE

$140 B.

STRIPE

$95 B.

RIVIAN

$28 B.

INSTACART
$39 B.

CANVA

$40 B.

FANATICS

$18 B.

BIOSPLICE

THERAPEUTICS

$11 B.

SPACEX

$74 B.

LOCATION OF COMPANIES THAT HAVE ACHIEVED UNICORN STATUS