Billion-dollar start-ups changing the world
The start-up is the hottest thing in business today as lots of bright (mostly) young people vie to make their idea the next big multi-billion-dollar thing and push themselves into the glittering pantheon of eccentric and creative tech superstars.
The start-up trail is making some people rich but it’s also changing the way the rest of us live, as the likes Apple, Facebook, Twitter, genetics site 23 and Me, and accommodation group Airbnb remodel the way people work, play, love, communicate, travel and understand themselves.
Some of the world’s biggest companies come from the most humble beginnings, like Apple Inc, which famously began in a garage, and Facebook, which was created in a college dorm. Today, the start-up channel is becoming more sophisticated, with billion-dollar private businesses being created by with backing from venture capital firms and professional tech investors.
This list of the world’s biggest start-ups worth more than $1 billion, was compiled by the Wall Street Journal:
1. Uber – founded 2009
Value: $41.2 billion Backing: $2.8 billion
Famous for its private cab service app which offers competitive prices based on supply and demand
2. Airbnb – founded 2008
Value: $10 billion Backing: $800 million
Famous for offering a marketplace which allows travellers to rent private homes at competitive prices
3. Xiaomi – founded 2010
Value: $10 billion Backing: $347 million
Famous for offering cheap mobile phones in China and giving some stiff competition to Apple
4. Dropbox – founded 2007
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Value: $10 billion Backing: $507 million
Famous for creating a web storage platform allowing people to exchange large files over the internet
5. Snapchat – founded 2012
Value: $10 billion Backing: $150 million
Famous for its photo-based mobile messaging service, Snapchat rejected a buyout offer from Facebook in 2013
6. Palantir – founded 2004
Value: $9.3 billion Backing: $900 million
Software company used by government agencies like the FBI and CIA to sift through large amounts of information
7. Theranos – founded 2003
Value: $9 billion Backing: $91 million
Provides medical laboratory testing services and blood diagnostics
8. Flipkart – founded 2007
Value: $7 billion backing: $1.8 billion
Famous for bringing online shopping to India’s billions and promising next-day delivery on purchases
9. Square – founded 2009
Value: $6 billion Backing: $495 million
Famous for creating an app which allows mobile phones and tablets to be turned into electronic cash registers for businesses
10. Pinterest – founded 2008
Value: $5 billion Backing: $800 million
Created an online scrapbook where users ‘pin’ images they like in different folders
11. WeWork – founded 2010
Value: $5 billion Backing: $569 million
Famous for renting and dividing office space and subletting it to small startups
12. SpaceX – founded 2002
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Value: $4.8 billion Backing: $115 million
Space exploration company famous for providing cheap access to space
13. Cloudera – founded 2008
Value: $4.1 billion Backing: $1.2 billion|
Software development company which builds analytic applications for companies like Facebook
14. Spotify – founded 2006
Value: $4 billion Backing: $521 million
Famous for creating a music streaming service with 25 million free users and another 6 million paying users
15. Stripe – founded 2009
Value: $3.6 billion Backing: $200 million
Famous for providing a way for businesses to accept payments over the internet with no monthly or setup fees
16. Jawbone – founded 1999
Value: $3.3 billion Backing: $531 million
Famous for making aesthetically pleasing wireless speakers that can be paired with mobile phones
17. Fanatics – founded 1995
Value: $3.1 billion Backing: $320 million
Popular sporting team apparel retailer where sales in 2013 were projected to top $1 billion
18. VANCL – founded 2005
Value: $3 billion Backing: $472 million
Chinese online clothing retailer famous for turning its customers into models for its website
19. Legendary Entertainment – founded 2005
Value: $3 billion Backing: $1.1 billion
Media company that has co-produced blockbuster films with Warner Bros. and Universal Studios
20. Pure Storage – founded 2009
Value: $3 billion Backing: $470 million
Famous for creating high capacity flash memory devices
This article was first published on The New Daily.
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