Binance Features At 6th Spot On Global Unicorn Index

The Hurun Research Institute has just released the Global Unicorn Index 2022 Half-Year Report today. China continues to hold the lion share of Global Unicorn Index with five companies figuring in the list with three from US and one each from the U.K and Malta. However, what has surprised many is that Elon Musk’s company is placed in the second position while Binance, the world’s biggest crypto exchange finds position in the list.

Binance which is valued at $45 billion is placed in the sixth position. The latest news is a big heads up for the number one crypto exchange which was founded in 2017 by CZ Zhao and He Yi and also features its native crypto coin BNB. The company is headquartered in Malta and major investors include Vertex Ventures, Funcity Capital and Black Hole Capital.

The numero uno position is held by Chinese company Beijing-based Douyin which became the most valuable Unicorn company with a valuation of US$200 billion. Elon Musk’s SpaceX is in the second position with a valuation of US$125 billion. There are five new faces in the list and it includes

• Fast fashion platform Shein,
• Cryptocurrency exchange Binance,
• Digital bank WeBank,
• Digital technology start-up JDT
• Financial technology company Checkout.Com.

Chinese Unicorns Feature Most In Top 10 Unicorn Index

The Global Unicorn Index 2022 Half-Year Report is a benchmark that decides the position of Unicorns and was founded in the 2000s. Companies with capital below one billion dollars and not listed in any exchange are taken into consideration in the list.  The cut-off date was 30 June this year. The institute has been tracking unicorns since 2017.

The top ten unicorns constituted 17.6% of the overall value of the world’s unicorns this year. The average age of the Unicorn founders are 44 years. The US unicorns are more in SaaS, fintech and health tech, and Chinese unicorns are in health tech, AI, and e-commerce.