According to CB Insights, Chinese AI company Bytedance, parent company of TikTok, is the highest-valued startup – currently private, up-and-coming company – in the world. The venture which is valued at $140 billion is running content platform Toutiao in China, which uses machine learning to tailor a newsfeed for each individual viewer out of traditional and new media sources.
The second highest-valued startup according to CB Insights is also from China – ride-hailing service Didi valued at $62 billion, while Elon Musk's space company SpaceX took third place in the list of unicorns, valued at $46 billion as of November. U.S companies now make up 60 percent of the top 10, the remaining startups being Chinese or Indian. The coronavirus pandemic might have been responsible for some reshuffling taking place on the list, with two food delivery companies entering the top 10. Instacart concentrates on groceries, while DoorDash specializes in restaurant pick-ups.
According to CB Insights, there are more than 500 unicorn startups (companies valued at $1 billion or more) in the world as of November 2020.