Share this on Twitter Share this on Facebook Share this on LinkedIn Share this on Sina Weibo Share this on Wechat Share this on LinkedIn Growth of unicorns in the U.S., China, and next three highest countries (U.K., India, Germany). Data: CB Insights, numbers are mid-year values, with most recent data as of June 11, 2020. Unicorns — privately held startups valued at more than $1 billion — have become a symbol of innovation and the entrepreneurial spirit since the term was coined in 2013. In this week’s installment of The Big Picture, we show the narrowing race between U.S. and Chinese unicorns, and introduce readers to the Chinese unicorns leading the herd, as well as the VC firms backing their rise. Top Unicorn-Producing Nations Though the Hurun Report made news last year by announcing that China surpassed the United States to become the country with the most unicorns, other sources tell a different story. According to PitchBook’s dataCriteria for unicorn status includes most recent post-money valuation greater than $1 billion, VC backing, and private ownership. from June 11, 2020, there are 44Subscribe or login to read the rest. Subscribers get full access to: Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else. A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times. A daily roundup of China finance, business and economics headlines. We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.