The growing trend of startups has changed the business landscape of countries worldwide, and the USA is no different. Currently, there are more than 80k startups in the USA, and most of these startups have emerged from Silicon Valley. However, the survival rate of these startups is quite scarce. According to various sources, 80% of all new startups fail after 1 year in business. This means that the survival rate of startups in America is around 20%. This shows how difficult it is to survive and grow in this competition. However, even after facing fierce competition, some startups grow and become unicorns. In this blog, we will discuss some of the biggest American unicorns in 2024 based on their market capitalization.
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What Is A Unicorn
In finance, a unicorn is a completely privately owned startup that has crossed the $1 billion valuation mark. These unicorns take funding from investors and the government to expand their businesses. Moreover, these unicorns are also not listed on any stock exchange as they are not made public yet
Top 10 American Unicrons In 2024
Here is a list of the top unicorns in the USA in 2024. The market capitalization of these unicorns has been taken from credible sources such as The Wall Street Journal, Fortune Magazine, and many others.
#1. SpaceX
With a market capitalization of over $125 billion, SpaceX is the biggest American unicorn ever. It is a privately owned telecommunications and space exploration company founded by Elon Musk, who was once touted as the richest person in the world. Musk founded the company in 2022 with the sole purpose of exploring space and colonizing Mars.
Market Cap: $125 Billion
#2. OpenAI
OpenAI is an American Unicorn that has been at the forefront of GenerativeAI development in the country and the world. Founded in 2015, OpenAI is backed by some of the most influential tech people in the USA, like Bill Gates and Elon Musk. Its CEO, Sam Altman, is also one of the most influential people in AI development. He is sometimes addressed as the prodigy in AI.
Market Cap: $80-$90 Billion
#3. Stripe
Stripe is a multinational Irish-American Unicorn that offers financial services and software as a service. Its headquarters are in San Francisco, United States Of America, and Dublin, Ireland. The company is one of America’s biggest unicorns and generates around $14 billion annually.
Market Cap: $50 Billion
#4. DataBricks
DataBricks is a global AI, data, and analytics company founded in 2013 by Ali Ghodsi in California, USA. The company develops computer software. It is the biggest American computer software unicorn and generated around $1.6 billion in revenue in 2023.
Market Cap: $43 Billion
#5. Anthropic
Anthropic is a US-based Artificial Intelligence company founded in 2021 with the sole purpose of “Studying AI safety properties at the technological forefront” and providing safe and reliable AI language models to the public. As of now, Anthropic has developed a large language model (LLM) called Claude, which is a direct competitor of ChatGPT and Gemini.
Market Cap: $20-$30 Billion
#6. EpicGames
The next Unicron to discuss is Epic Games. It’s a company based in North Carolina, USA, specializing in video game and software development. Epic Games makes many software and games but is best known for its computer graphics game engine, Unreal Engine, and one of the most selling games ever, Fortnite.
Market Cap: $31.5 Billion
#7. Fanatics
Fanatics is one of the most valued unicorns in the USA. It is a manufacturer and online retailer of licensed sportswear from American sports leagues like the MLB, NFL, NHL, NBA, MLS, NCAA, NASCAR, NPB, WWE, and Formula 1. Micahel Rubin, Alan Trager, and Mitch Trager founded Fanatics in 2011 in Jacksonville, Florida.
Market Cap: $27 Billion
#8. Chime
Chime Financials is a US-based financial service aggregator that provides its financial services to regional banks and provides fee-free mobile banking services. It was founded in 2012 by Chris Britt and Ryan King in California, USA. Chime makes most of its revenue from the fees it charges on debit card transactions.
Market Cap: $25 Billion
#9. Miro
Formerly known as RealtimeBoard, Miro is a digital collaboration platform designed to facilitate communication and project management between remote and distributed teams. It was founded by Andrey Khusid, Oleg Shardin, and a few others in 2011.
Market Cap: $17.5 Billion
#10. Discord
Discord is another American unicorn that is famous worldwide. It is an instant messaging and VoIP(Voice over Internet Protocol) social platform. Users can communicate by video and audio calls, text messages, and media files. However, the biggest difference between Discord and other messaging apps is the ecosystem Discord was able to create for gamers, developers, and any other community.
Market Cap: $15 Billion
The Ever Changing Landscape Of American Startups
There are many startups in America that have turned into billion-dollar businesses. However, only a few were able to become unicorns. The main difference is the ownership of the startup. Many startups list their company on the stock exchange and lose the title of Unicorn in the process. We hope you liked this blog and comment to let us know which topic you want us to cover next.
