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Examples of Unicorn Startups from Around the World
As of 2024, when analyzing the sectoral distribution of unicorn startups, the software industry leads with a total of 831 unicorn companies, followed by the finance sector with 390 companies, and the information technology sector in third place with 339 companies.
Currently, there are more than 1,200 unicorn startups worldwide, with a total estimated valuation exceeding $3.88 billion. Well-known large-scale companies such as Uber, Airbnb, and SpaceX serve as prime examples of unicorn startups on a global scale. Let’s take a brief look at them.
A Unicorn Story that Revolutionized Accommodation: Airbnb
The name Airbnb originates from the popular accommodation concept “bed and breakfast.” The “air” in Airbnb is derived from “air mattress,” and to understand why this term was included in the company’s name, it is essential to take a brief look at Airbnb’s history.
Although Airbnb has a relatively short history, it has completely revolutionized the accommodation sector. The company was founded in 2007 in San Francisco by Joe Gebbia and Brian Chesky. Facing difficulties in paying their rent, Gebbia and Chesky decided to rent out a room in their home, offering guests a temporary stay on an air mattress along with breakfast in the morning.
Airbnb’s rise coincided with the U.S. elections when hotel capacities became insufficient due to election rallies. This situation provided Airbnb’s founders with an opportunity to introduce their platform to the general public. Having transformed the global accommodation landscape, Airbnb has become the dominant player in the short-term lodging industry, with its brand name now being widely recognized and commonly used in everyday language.
The Giant of the Transportation Industry: Uber
Founded in 2009 by Travis Kalanick and Garrett Camp, Uber has become the dominant force in the transportation industry. The idea for Uber was conceived when the two founders were unable to find a taxi on a snowy day in Paris, leading them to create a solution that allowed people to hail a ride through their smartphones.
Uber enabled individuals to travel economically, quickly, and safely to their desired destinations. Today, Uber has regional hubs in major cities such as San Francisco, London, São Paulo, Mexico City, and Amsterdam, and it employs more than 16,000 people worldwide.
Examples of Unicorn Startups from Turkey
Currently, Turkey is home to seven unicorn companies:
- Peak Games
- Getir
- Trendyol
- Hepsiburada
- Insider
- Papara
- Dream Games
Founded in 2010 by Sidar Şahin, Peak Games became the first unicorn startup in Turkey. The company received a total investment of $11.5 million and reached a valuation of $1.8 billion. Recognizing Peak Games’ success, Zynga Games later acquired some of the company’s most successful divisions. Peak Games operates with a team of approximately 100 employees.
Sidar Şahin is also one of the co-founders of Trendyol. Demet Mutlu, the founder of Trendyol, launched the company with an initial capital of just $300,000. Within just 16 months, Trendyol reached a valuation of $16 million. One of the primary reasons behind Trendyol’s success is its results-oriented approach and focus on providing a seamless e-commerce experience for users. Initially starting as a fashion and apparel platform, Trendyol later expanded into grocery delivery and food ordering, entering into direct competition with Getir. With an aggressive growth strategy, Trendyol managed to establish itself as a market leader in these sectors as well.
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What are the Stages of Startup Investment? How to Enter an Investment Round?
Startup Investment Stages
Broadly speaking, there are five startup investment stages overall. The stages can be listed as follows: Idea-Seed Stage (Seed Stage), Early Stage, Growth Stage, Later Stage, and Pre-Exit Stage.
Idea-Seed Stage (Seed Stage)
The idea-seed stage is the earliest phase of a startup project. In this phase, the startup entrepreneur develops and refines the business idea. By conducting market research, the feasibility of the idea and the potential market demand are determined. A prototype is created, developing the first version of the product or service. A detailed business plan is prepared. A team with the necessary talents to work in different areas of the startup is formed. Generally, small amounts of financing are sought by approaching acquaintances or angel investors. When necessary, applications for patents or copyrights may be submitted to secure intellectual property rights.
Early Stage
The early stage follows the seed stage in startup investment phases. The prototype developed during the seed stage is launched at the early stage. Companies acquire their first customers and begin to receive feedback from them. Startups expand their core teams and fill key positions. Based on this feedback, the business model is tested and, if necessary, improvements are implemented. To secure larger amounts of investment, venture capital firms are approached. The scalability of the business model is demonstrated. Companies clarify their market positions and determine their competitive strategies.
Growth Stage
The growth stage follows the early stage in startup phases. At this stage, startups experience significant increases in revenue and customer base. They strengthen their market positions and increase their market shares. Business processes are optimized to take advantage of economies of scale. Geographic expansion or entry into new product or service segments is undertaken. Companies generally become profitable or increase their profitability. They adopt a more corporate structure and establish management layers. At this stage, partnerships with other major players in the industry may be formed. Brand values and recognition can be significantly increased. Major technological and infrastructural investments may be made to support growth.
Later Stage
The later stage follows the growth stage in startup phases. Startups in this stage are market leaders or are close to market leadership in their sectors. They have consistent and predictable revenue streams and achieve profit margins. Their business models are fully established and well-defined. They have large and loyal customer bases. Companies are in a position to acquire or merge with their competitors. They have completed their expansion into global markets. They are capable of securing large amounts of investment from major private equity funds or strategic investors.
Pre-Exit Stage
The pre-exit stage follows the late stage in the start-up phases and is the final stage in which a company or start-up is prepared to provide returns to its investors. In this phase, exit options such as IPO, strategic wrap or merger are identified. The financial structure and performance of companies are optimized for exit. Preparation is made for a comprehensive due diligence for potential buyers or investors.
All legal and regulatory requirements for exit are met. The market value of the company is determined and maximized. Experienced managers are hired to manage the exit process. All business processes and operations are improved and streamlined. The company’s image and reputation are polished for exit. Develop relationships with potential new investors or buyers. Identify and manage potential risks that may affect the exit.
How to Enter an Investment Round?
The first step when entering an investment round is to determine how much funding the startup requires. If necessary, a loan may be applied for to cover this funding, and support can also be obtained from individual investors. However, the most important aspect is to determine the financing correctly.
Once the required funding has been determined, a well-prepared business plan that will attract the attention of investors must be prepared. This business plan should clearly specify how the investor will earn a profit and be examined in all its details.
At the same time, before the investment round, bank account summaries, commercial financial statements, and all other legal documents should be prepared and compiled. Then, a decision must be made regarding which type of investor would be most beneficial for the startup, and the necessary plans should be made accordingly.
INVEXEN’s Roadmap Consulting for Startups
INVEXEN offers a comprehensive entrepreneurial consulting service covering everything from entrepreneurship capital fund management to entrepreneurship capital training, from investment round consulting to acceleration program consulting, and entrepreneurial program consulting in all areas of entrepreneurship, supporting companies aiming for unicorn status, startups, and those targeting the pinnacle of entrepreneurship. We are always by your side on your journey to the top of the startup world!
Now, contact us and join us in reaching the pinnacle in the ever-expanding world of entrepreneurship!
