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Sunday, May 19, 2024

Hurun Releases 2024 Global Unicorn Index


The Hurun Research Institute has just unveiled its highly anticipated Global Unicorn Index 2024. The report providrs a comprehensive overview of the world’s most impactful startups founded after 2000. Each boasting a valuation of at least US$1 billion and not yet listed on a public exchange. Here’s a breakdown of the key findings and trends shaping the global unicorn ecosystem:

Unprecedented Growth and Expansion

Over the past year, the world witnessed the birth of one new unicorn every two days. The United States leading the charge with 70 new unicorns, followed closely by China with 56 and the ‘Rest of World’ with 45. This surge propelled the total number of unicorns worldwide to a staggering 1,453, setting a new record and marking a 7% increase from the previous year. India contributed significantly to this growth, holding the third position with 67 unicorns, despite experiencing a slight decline of 1.

Geographical Distribution

The United States maintained its position as the global leader in unicorn formation, boasting 703 unicorns, up by 37 from the previous year, and accounting for 48% of the world’s total. China followed closely with 340 unicorns, up by 24, while India held the third position with 67 unicorns. The European Union countries collectively contributed 109 unicorns, up by 5 from the previous year.

Rise of Industry Titans

Several newcomers ascended to the top ranks of the unicorn hierarchy, with OpenAI witnessing the fastest valuation increase. Soaring by US$80 billion to secure the third position with a valuation of US$100 billion. SpaceX followed suit, adding US$43 billion to reach a valuation of US$180 billion. Other notable newcomers to the top 10 include Sydney-based graphic design platform Canva, which doubled its valuation to US$39 billion. Malta-based crypto exchange Binance, which surged by US$14 billion to US$34 billion.

Sectoral Trends and Disruptions

Fintech, AI, blockchain, and new energy emerged as the fastest-growing sectors, with fintech leading the pack with 185 unicorns. Followed by SaaS with 139 and AI with 115. China’s unicorns predominantly focused on AI, semiconductors, and new energy/ While the United States led in SaaS, fintech, and AI. India witnessed significant growth in fintech and e-commerce, contributing to its position as a major player in the global unicorn landscape.

Challenges and Opportunities

Despite the remarkable growth of the unicorn ecosystem, challenges such as regulatory hurdles and market competition persist. However, the surge in unicorn formation reflects investors’ confidence in startups’ ability to drive economic growth and innovation. Positioning them as key contributors to the economy of the future.

Investor Insights

Tiger Global emerged as the ‘World’s Most Successful Unicorn Investor,’ dethroning Sequoia, followed by SoftBank and HongShan. The average age of unicorns stands at 10 years, with founders averaging 45 years old. The total value of unicorns worldwide reached US$4.6 trillion, representing a 7% increase from the previous year.


As the unicorn ecosystem continues to evolve, the Global Unicorn Index 2024 serves as a testament to the remarkable growth and innovation driving global entrepreneurship. With startups reshaping industries and economies worldwide, the future holds immense promise for value creation and societal impact on a global scale.


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