ByteDance Tops Unicorn Rankings While Valuations Surge in AI and Aerospace
Oct/29/2024
Despite recent valuation boosts for OpenAI and SpaceX, ByteDance, the parent of TikTok, holds its position as the highest-valued unicorn globally, valued at $225 billion, per CB Insights. This valuation places it ahead of SpaceX at $200 billion and OpenAI at $157 billion, the latter recently doubling its worth after a $6.6 billion funding round. While only OpenAI and Databricks specialize in AI, ByteDance has ventured into this sector, launching its language models, Doubao, in 2023, further cementing its lead. The list of top unicorns spans apparel giants like Shein, fintech firms like Stripe, and software entities like Databricks. However, the 'unicorn' label is nuanced, as it includes companies like ByteDance and SpaceX, often far beyond traditional startup funding needs. CB Insights lists approximately 1,200 global unicorns, though CrunchBase’s broader criteria place the figure at 1,549, accounting for privately valued subsidiaries under public parent corporations, such as Ant Group and Reliance’s subsidiaries.
