WE should start believing in Pokemon and unicorns. Within a month after the Pokemon Go app was officially available, starting on July 6 with the United States, Australia and New Zealand, it has become a certified global phenomenon.
One major investment bank has already concluded that the Pokemon Go craze has transformed the game’s developer, Niantic Inc, into a unicorn, that is, a start-up that’s valued at US$1bil or more. According to a July 19 research note, analysts at Citi have quickly worked out that Niantic is worth about US$3.65bil, based on the projected annual revenue.