HNOLOGY NICORNS

What began as Aileen Lee’ s 2013 description of rare US $ 1bn startups has transformed into something far more extraordinary. Today’ s unicorn landscape features more than 1,200 companies collectively valued at US $ 5.9tn: a twentyfold surge since the term was first coined. This staggering growth signals a fundamental shift in how value is created, with the most significant innovation now happening years before companies ever consider going public. Spearheading this private market boom are technology’ s‘ super-unicorns’ – companies worth more than US $ 100bn – that collectively account for US $ 1.2tn in value.