Chinese artificial intelligence and media company ByteDance, which developed TikTok, is the world’s most valuable startup, according to CB Insights.
TikTok’s parent company is valued at $225 billion. ByteDance also runs the Toutiao content platform in China, which uses machine learning to tailor a news feed for each individual viewer from traditional and new media sources.
The list of the top 8 most valuable startups in the world features only one company from outside the US and outside China, UK fintech app Revolut.
The November 2023 ranking also included Australian software company Canva (10th) and Indonesian logistics provider J&T Express (13th). A quick riser on the list was Chinese clothing retailer Shein, now valued at $66 billion.
According to CB Insights, in October 2023 there were more than 1,200 unicorn startups (companies valued at $1 billion or more) in the world. Around 40 are decacorns, valued at $10 billion or more, including OpenAI, Discord, Grammarly, JUUL, BYJU’s and Reddit. Bytedance and Space X are valued at over $100 billion.
2023-11-25 13:27:14
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