China is home to three of the world’s 10 largest unicorns by valuation, including the top two, according to a new report that comes amid growing tensions between Beijing and Washington.
TikTok owner ByteDance leads with a valuation of US$140bil (RM585.06bil) while ride-hailing giant Didi Chuxing is in second place at US$56bil (RM233.96bil), among 488 global private companies valued at more than US$1bil (RM4.18bil), according to a report by research firm CB Insights. Tencent-backed startup Kuaishou, a rival to ByteDance, ranks seventh globally with a valuation at US$18bil (RM75.20bil).