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The New Companies That You Didn’t Know Are Valued At Over A Billion

Yesterday Forbes announced their annual Rich List, with a now record number of billionaires in the world. Is it any wonder though when new companies are being branded with valuations exceeding a billion in record time, more often than not without any real profitability to speak of?

The Wall Street Journal in partnership with Dow Jones VentureSource have tracked the companies, classed as startups, that are venture-backed and raised a valuation of $1bn or more. Here are 5 you most likely have yet to even hear of…

 

MEITUAN $7bn

Only founded in 2010, the website dubbed “the Groupon of China” has over 200million active users, more than 10,000 employees and is active in 1000 Chinese cities. Started by American-educated Chinese entrepreneur Wang Xing and his college friend Mu Rong, the company has yet to even reach its 5-year anniversary and has already raised $1.1bn in equity funding; now holding a valuation of $7bn. It’s investors include the Alibaba Capital Partners and Sequoia Capital.

 

DIDI DACHE $3.5bn

Another Chinese company hitting big is taxi-hailing app Didi Dache. In just 3 years it has become one of the dominant apps in its field and has begun a merger with its main competitor Kuaidi Dache. Allowing users to send out orders to proximate cabs and pay extra fees to ensure they get a ride during peak times, it has been valued at $3.5bn after its latest round of funding raised $700m. The company was founded by Wei Cheng whose previous experience was with e-commerce giant Alibaba.

 

INSTACART $2bn

Supermarket shopping habits are changing dramatically, Tesco are struggling and the big chains are having to adapt to an increasingly mobile and fast-paced modern world. Instacart is capitalising on this change of landscape, and was picked by Forbes this year as the most promising company in America. The app allows customers to order groceries and have them delivered within an hour. Already in 15 cities and with 4000 personal shoppers, it’s as yet resisted advances from Google and Amazon and been rewarded with equity funding of $275m with a valuation of $2bn, in around 3 years.

Visit the website for more information

 

MAGIC LEAP $2bn

In the world of virtual reality, Oculus Rift is the big name, having been purchased by Facebook Inc. for $2bn in 2014. Magic Leap is another company making moves in a field being hailed as the future in tech. The project is highly secretive but what we do know is it appears to blend digital graphics and the real world through a headset. With $592m in funding from the likes of Google and Legendary Entertainment, the firm has a $2bn valuation, despite how little is really known about the project.

Visit the website for more information

 

WEWORK $5bn

New York City based startup WeWork is transforming the exciting realm of office space. The four-year-old company has a valuation of $5bn and has been heralded as the Uber of its industry. Their model is to split up rented office space and sub-let to startups in a shared environment, evoking a community aspect to spark creativity. With spaces currently in 15 cities in 4 different countries, it’s also just launched a social network, WeWork Commons, similar to Linkedin that offers additional perks for users.

Visit the website for more information

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