What Is a Decacorn?
With the right business idea, you can set up a large company in a short time. We’re not exaggerating when we say “big” here: it all depends on how original and interesting your idea is. For example, even a venture listing betting bonuses south africa for the SA market, where most operators pass, can be extremely successful. Sometimes, your success can make your company worth more than $10 billion: in this case, you’ve set up a “decacorn.”
“Decacorn companies are most common in the finance and technology industries,” says Tony Sloterman, Product Owner of Casino Bonuses Finder company. “There is still no operator in the iGaming industry that fits this description. Even Flutter Entertainment, which owns the world’s largest iGaming brands, is worth just over $6 billion.”
So, what does it take to become a decacorn company, and which companies fit this description as of 2022? We answer these questions below.
Definition of a Decacorn
Aileen Lee is considered one of the best-known angel investors and the person who coined the term “unicorn.” Lee used this term for startups worth over a billion dollars in an article titled “Welcome To The Unicorn Club: Learning from Billion-Dollar Startups” she wrote for TechCrunch in 2013. At the time, it was seen as an incredible achievement for a startup to rise above a billion dollars. But, likely, even Lee didn’t anticipate that even bigger startups would emerge so soon that the term unicorn would be insufficient to describe them.
Currently, three different terms are used to describe the size of startup companies:
- Unicorn: Companies worth over a billion dollars. There are more than 450 companies in the world that fit this description, of which 214 are in the United States.
- Decacorn: Companies worth over ten billion dollars. The term was coined by Bloomberg Business in 2015. There are more than 20 decacorns all over the world, of which 11 are in the United States and 6 are in China.
- Hectocorn: Companies worth over $100 billion. This term means “one hundred horns”. Google, Microsoft, Facebook, Apple, Oracle, and Cisco are the most well-known names in this category.
List of Decacorn Companies – 2022
- Bytedance. You probably haven’t heard of this name before, but we’re sure you’ve heard of a mobile application developed by it: TikTok. ByteDance is a China-based company, and its revenue is approximately $58 billion as of 2021.
- SpaceX. If you know the name Elon Musk, then you know what SpaceX is. We can also say that this company is technically now considered a hectocorn because as of January 2022, its value was $100.30 billion.
- Stripe. This is a payment provider used by almost all small and medium-sized online merchants: if you are paying with a credit card on a website, you are most likely using the Stripe infrastructure. The company’s value is estimated to be around 95 billion dollars.
- Klarna. This too is a payment provider but focuses on mobile devices and operates as a “buy now pay later” service. The Sweden-based company is valued at just over $45 billion.
- Epic Games. This is actually a video game development company, but it also has its own sales platform, and this is the main feature that increases its value. The platform has over 50 million users and its value is thought to be around $42 billion.
- Canva. Canva is a graphic design platform and the templates it offers can be used in many products, from social media videos to presentations. It’s worth $40 billion.
- com. This is an online payments platform, and its value has skyrocketed to around $40 billion during the pandemic.
- Instacart. This service operates in the US & Canada and works as a grocery delivery platform. Its value rose to $39 billion during the pandemic period.
- Databricks. This is a data analytics platform serving Fortune 500 companies and is valued at around $38 billion.
- Revolut. This mobile wallet and banking service has grown rapidly since it started supporting cryptocurrencies & mortgage loans and has reached a value of approximately $33 billion.
The names in the rest of the list (e.g., FTX, Miro, SHEIN) are not very well-known, but almost all of them operate in the finance and retail sectors. In other words, companies in these sectors have faster and more growth potential compared to others.