China and the United States were crowned the countries with the most unicorn companies globally, according to the Global Unicorn Index 2021, compiled by the Hurun Research Institute.
A unicorn company is one that is worth US $ 1 billion or more.
The United States topped the list with 487 unicorn companies in total (254 more than in the last edition of the report).
China, for its part, will close this year with 301. Compared to a year ago, 74 new unicorn companies were added to the list.
Chinese tech giant Bytedance, the parent company of video platform TikTok and its Chinese sister app Douyin, ranked as the world’s most valuable unicorn, with its valuation rising to 2.3 trillion yuan (equivalent to US $ 350 billion). this year.
Beijing hosted 91 unicorn companies in 2021, the second largest in terms of the number of unicorns globally, while Shanghai ranked fourth with 71. Shenzhen maintained its fifth place with 32 unicorn companies.
India ranked third with 54 startups (33 more than last year).