We live in the age of unicorns. Since the term was coined in 2013 by venture capitalist Aileen Lee to describe start-ups valued at US$1 billion or more, unicorns have multiplied with incredible speed. The unicorn, symbolizing the statistical rarity of such successful ventures, has become almost commonplace. With 193 unicorns globally worth US$664 billion in total*, unicorns also reflect the rise of private capital and investor euphoria over the promise of technology, especially in China.
I am frequently asked why our China Unicorn Ranking has 108 unicorns, while some Silicon Valley-based data firms have the number at 45. How do we explain the vast difference?
Tiger Management Corp. has led a US$120 million D3 round in Yunmanman, a freight transportation and logistics mobile app operator in China, according to Chinese media reports.