Chi­nese uni­corns on the rise, with one born ev­ery three days: Hu­run re­port

Global Times - - Biz Overview -

A new uni­corn com­pany is born in China ev­ery three days, and most such com­pa­nies are in the in­ter­net in­dus­try and based in Bei­jing, ac­cord­ing to a re­port is­sued by the Hu­run Re­search In­sti­tute on Tues­day.

The Hu­run Greater China Uni­corn In­dex 2018 Q1 found that 33 uni­corn com­pa­nies, those val­ued at $1 bil­lion or more and not listed yet, were added to the uni­corn list in the first quar­ter in China, in­clud­ing the Chi­nese main­land, Hong Kong, Ma­cao and Tai­wan.

The to­tal num­ber of such com­pa­nies stood at 151 as of the end of March, said the re­port.

Among 33 newly listed uni­corn com­pa­nies, Ten­cent Mu­sic, a stream­ing and down­load­ing ser­vices provider like Spo­tify, ranked first in terms of mar­ket val­u­a­tion worth 150 bil­lion yuan ($23.89 bil­lion), fol­lowed by JD Lo­gis­tics with 70 bil­lion yuan.

Around one-third of the com­pa­nies are in the in­ter­net ser­vices sec­tor in­clud­ing Zi­room, an on­line plat­form for apart­ment rent­ing and shar­ing.

Next came cul­ture, en­ter­tain­ment and mo­bil­ity, with Ai­ways Tech­nol­ogy Co, a 1-year-old Shang­haibased in­ter­net start-up fo­cused on in­tel­li­gent and elec­tric ve­hi­cles, be­ing the youngest uni­corn.

Ai­ways said on Sun­day that it has se­cured three rounds of fi­nanc­ing to­tal­ing 7 bil­lion yuan, in­dus­try news site tmt­ re­ported.

“If model, tal­ent and cap­i­tal are all in place, star­tups can move very fast,” said Ru­pert Hoogew­erf, chair­man and chief re­searcher of the Hu­run Re­search In­sti­tute.

Among all the uni­corn com­pa­nies sur­veyed by the Hu­run re­port, Ant Fi­nan­cial, an af­fil­i­ate of Alibaba Group Hold­ing, topped the list with a val­u­a­tion of 400 bil­lion yuan.

The fi­nan­cial tech­nol­ogy giant is prepar­ing to raise $9 bil­lion in a pri­vate fund­ing round ahead of its IPO, which may value the com­pany at about $150 bil­lion, the Wall Street Jour­nal re­ported on April 10, cit­ing peo­ple fa­mil­iar with the mat­ter.

There were no uni­corn com­pa­nies in Hong Kong, Ma­cao or Tai­wan, ac­cord­ing to the re­port.

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