About 200 Chinese startups have valuations of $1 billion or more, and many are preparing to go global.

The standard definition of a unicorn is a privately held startup valued at more than $1 billion. Currently, when people think of Chinese unicorns, they think of the handful of companies that have risen to global status in two decades or less: companies such as Alibaba, Baidu, JD.com, and Tencent. Since these few are already valued at $10 billion or more, they are now known as “superunicorns.” Many more Chinese unicorns are coming up behind them, still relatively unknown because they currently operate only within China, which is large enough to sustain them for some time. But sooner or later, many of this second wave of Chinese unicorns will grow into global industry giants. Read More

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