A list of global start-ups worth at least a billion dollars who have yet to go public, also known as unicorns, was released on Aug 4 by ranking agency Hurun and Suzhou New District.
The agency said the number of unicorns reached 586, an increase of 92 from last year. These start-ups are based in 29 countries and 145 cities–including China Hangzhou, with 80 percent selling software and services, 60 percent consumer-facing and 5 percent in traditional sectors. Their total valuation is $1.9 trillion.
The US has 233 unicorns, just ahead of China’s 227, and the two countries make up 79 percent of the world’s total. On the city level, Beijing has the most number of unicorns with 93, followed by San Francisco at 68 and Shanghai at 47.
China’s Ant Financial topped the list with a valuation of 1 trillion yuan, followed by China’s ByteDance and Didi Chuxing. Moreover, six of the top 10 unicorns by valuation are from China, the other three being Lufax, Kuaishou and Cainiao.
The financial services and retail sectors have been the most disrupted by unicorns, followed by media and entertainment, business management solutions, healthcare, logistics and automobiles, the report said.
In addition, the average age of the companies’ co-founders is 42.
Ant Group, a leading provider of financial services technology in China, on Thursday officially launched a new brand, called AntChain, for the company’s blockchain-based solutions.
Since 2015, Ant Group has been investing significantly in the research and development of blockchain technologies to strengthen transparency and build trust in industries that traditionally involve large numbers of participants and complex processes.
According to a report released by the Patent Protection Association of China, AntChain holds the most blockchain patents worldwide with 212 patents as of May 14.
Ant Group has the largest productivity blockchain platform in China Hangzhou, with the ability to process and support 1 billion user accounts and 1 billion transactions every day. Currently, over 100 million digital assets are uploaded onto AntChain on average every day.
Ant Group also unveiled AntChain Station, an all-in-one workstation that reduces the deployment time of the company’s blockchain-based solutions by as much as 90 percent. This enables enterprise clients to set up AntChain within an hour, which is significantly lower than the previous average set-up time of 10 hours.
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