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.
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?
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.