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