Dozens of Chinese startups have been listed as the most valuable unicorns (startup companies valued at over billion) in the world, according to a recent report from a research institute.
New York-based tech firm CB Insights has unveiled its latest list of 197 of the most valuable private startups around the globe, 49 of which are from China.
The U.S. ride-hailing giant Uber Inc. tops the list with a total value of billion while its Chinese competitor Didi Chuxing Technology Co. ranks second with billion.
Chinese smartphone maker Xiaomi Corp., which was valued at about billion, ranks third on the list.
Companies on the list are mostly tech firms in sectors like e-commerce, internet technology, fintech, cyber security and social media.
54% of firms on the list are headquartered in the United States, while 23% are based in China.
Other Chinese companies which are also on the Global Unicorn Club list include bike-sharing startup ofo (bn), Fintech company Lu.com (.5bn), Lianjia(.2bn), an online platform for rental and second-hand real estate transactions, Ele.me (.5) a China-based online food ordering site, and China Internet Plus (known as Meituan-Dianping which was formed by the merger of Meituan, and Dianping, a group buying website).