Unicorns startups valued above $1 billion are meant to be rare. Asia now has a herd of them.
Across the region new industries such as fintech, social media and big data are flourishing by supplying services to a burgeoning middle class in super-wired cities. These relative newcomers include Xiaomi consumer electronics, Lufax peer-to-peer lender, Flipkart and Coupang e-commerce.
What used to be the stuff of legend is now relatively commonplace. According to CB Insights, there are 29 Asian unicorns with an aggregate value of $149 billion, which equates to 30% of the price of all unicorns globally.
There are many more...