- The technology landscape is completely different today than it was at the beginning of the decade.
- Many companies in the sector that did not even exist before 2010 became “unicorns” in 2019, reaching the benchmark and psychological valuation of $1 billion.
- Some of these young companies that have achieved this status are: Lyft, Instagram, Casper, Snapchat and Warby Parker.
- Discover more stories on Business Insider Spain.
During the 2010s, unicorns, a term used to refer to creatures Startups valued at least $1 billionemerged with great virulence.
A unicorn is not a mythical creature in Silicon Valley. Thanks to the rise of technology and investors, they are everywhere. You’ve probably seen ads for them on the subway or at some celebrity recommended some of these brands. You’ve probably even used many of these companies yourself.
The last decade introduced too many startups enough to count. However, only a few have managed to surpass the $1 billion valuation.
Among the most notable, which were founded in the decade, are Lyft, Glossier and WeWork. However, you may have also tried Lemonade or Postmates. If you look around, you’re sure to see more than one of these companies.
With that in mind, take a look at the 30 companies valued at least $1 billion that didn’t exist 10 years ago.
Read more: 20 Spanish startups and companies that will revolutionize our lives
Paris-based Meero has become the go-to tool for photo editors since its launch in 2016. The company raised $230 million, raising its valuation to $1 billion, last June.
Meero
Meero is an online editing and production tool assistant for photographers that uses artificial intelligence, similar to Photoshop, but much faster and more efficient. The technology behind the brand allows AI to edit raw images automatically. It also links freelance photographers with firms looking for content, with a 24-hour turnaround time. The business raised $230 million in June, raising its valuation to $1 billion to become the world’s largest online content provider. one of Europe’s fastest growing companies of the entire decade.
CEO Thomas Rebaud wants to organise more meetings with photography professionals in the future, run some masterclasses and even launch a magazine.
Juul Labs launched in 2015 and has grown into a multi-billion dollar company, with a valuation of $24 billion. Still, it has come under fire in recent years, making its future uncertain.
Getty
One of the most controversial companies of this decade, Juul, the e-cigarette company, has generated some controversy after investigations in the United States Congress and criticism from the Food and Drug Administration, approved the ban of some of its products.
Its growth was rapid, due in part to its marketing strategy. The ads on social networks aimed at a young audience is what caused some critics to label it a new nicotine epidemic. A year after its launch, Their revenue increased by 700%, selling more than 1 million products.
However, in September, its CEO resigned after questions arose about the dangers of using these products. The company also recently stopped advertising in the US. Its valuation has fallen from $38 billion earlier this year.
DoorDash, the popular food delivery service, is valued at $13 billion.
Kimberly White/Getty Images
DoorDash launched in San Francisco in 2013 and has since gained a good number of competitors like UberEats, Postmates and Seamless. Last summer, the company faced backlash over its hiring model, which sometimes resulted in workers not actually receiving tips from customers. The company changed its policy in the wake of the criticism.
Today, it remains a private company and its co-founder, Tony Xu, explained to Forbes that they will not disclose financial information, although it is not yet profitable. He said that he plans to continue raising funds, launching new products and expanding the service.
WeWork, the coworking company launched in 2010, was the most valuable tech company at the start of 2019 at $47 billion. Today, it is worth less than half that.
Reuters
When WeWork first appeared, it was hailed as a revolutionary business. WeWork’s sleek and comfortable office spaces attracted all kinds of audiences. Co-founder Adam Neumann proved so charming and persuasive that he secured a $1 billion investment from the company. $4.4 billion from SoftBank CEO, Masayoshi Son.
But when the company publicly filed its IPO paperwork in 2019, investors got a first glimpse of the company’s finances, which showed mounting losses in the billions. Added to this was the erratic behavior of its eccentric CEO, Neumann. Plans to go public were also thwarted, and initial measures to appease potential investors were not enough to save its IPO. WeWork has finally shelved its plan to go public and its top executive resigned, but not before pocketing more than $1 billion. According to CB Insightsits current valuation is around $8 billion.
Food delivery app Instacart, founded in 2012, was last valued at nearly $8 billion.
Instacart
Its expansion on Instagram, as well as the partnership with Amazon’s Whole Foods, along with its willingness to cater to “traditional retailers,” according to Recode, are essential to its future growth.
Like DoorDash, Instacart’s fleet of workers has clashed with the company over its hiring model, which replaced tips with a service fee. The company added the option to return tips, but the change still drew criticism.
The company’s compensation model remains controversial for its workers, who last summer urged users of the platform to tip in cash rather than through the app, and have even gone on strike.
Robinhood, the commission-free stock trading app launched in 2013, is valued at $8.78 billion.
Brendan McDermid/Reuters
With a user base of more than 6 millionThe app also offers the option to buy and trade cryptocurrencies such as Bitcoin, Ethereum and Litecoin.
“There were a lot of people who didn’t believe in it and we had to knock on a lot of doors,” co-founder Vlad Tenev told Business InsiderSome of Robinhood’s most notable investors include Snoop Dogg and San Francisco-based venture capital firm Index Ventures.
The rise of this business has had to face serious obstacles. At the beginning of this year, it had to abandon the launch of its current and savings accounts.
SoFi, the US-based online wealth management startup, was founded in 2011 and is valued at $4.8 billion.
Rafael Henrique/SOPA Images/LightRocket via Getty Images
In 2015, the company announced a $1 billion funding round led by SoftBank, making it the largest “capital raising in the technology space” at the time.
In 2017, former SoFi CEO Mike Cagney resigned after an investigation by the New York Times reported that Cagney could be prosecuted for sexual harassment. Since the scandal, Anthony Noto, former chief operating officer of Twitter and former managing director of Goldman Sachs, has stepped up and shown interest in the company entering the cryptocurrency business.
Scooter and bike rental company Lime is valued at $2.4 billion after raising more than $777 million since its launch in 2017.
Lime
The past two years have seen a rise in e-scooter companies like Lime, which first launched in Santa Monica and is now available in 120 markets around the world. Last year, though, was a tough one for Lime, but it also achieved a $1 billion valuation.
The city of San Francisco sent the company a petition to cease its “current business practices as they create a public nuisance.” Multiple studies examined the number of injuries caused by e-scooters, sparking a public backlash, while more recent studies suggest that cities either don’t know how to regulate them, or end up banning them altogether, while riders don’t really know how to ride them.
Postmates was founded in San Francisco in 2011. Today it employs thousands of couriers and operates in more than 3,000 cities.
Melia Robinson
Last September, Postmates was valued at $2.4 billion after raising $225 million, bringing its total funding to $906 million.
It first achieved ‘unicorn’ status in 2018 as better-funded competitors entered the market. The company was expected to go public in late 2019, but its IPO has reportedly been shelved until 2020.
According to a report by Business InsiderPostmates remains “unprofitable and lagging behind in the food distribution market.”
Plant-based food company Impossible Foods is currently valued at $4 billion.
Ben Gilbert/Business Insider
Founded in 2011, Impossible Foods makes plant-based foods to replace meat, dairy and fish. Last year, it launched a vegetarian burger with Burger King.
Demand for its products led Impossible Foods to complete a $300 million funding round in May, raised its valuation to $2 billion as demand for its flagship product, the veggie burger, soared. The company’s investors include singer Katy Perry, tennis star Serena Williams and Microsoft co-founder Bill Gates. By late 2018, the company said it was producing 1 million kilos of its main product a month, and there are no signs of demand slowing down.
To date, it has raised $350 million with a valuation of $4 billion, according to PitchBook.