Unicorns: Which are Growing, Which Are Shrinking?


Valuing startups from the outside can be challenging. As a proxy, startups are commonly assessed based on headcount growth and total funding received. In this report, we analyzed which of the unicorns (private companies with a reported valuation above $1 billion) are exhibiting signs of growth/decline based on detected changes in headcount.

We pulled metrics on 157 unicorns from the Craft database to see which are growing headcount and which are shrinking. Craft is a data and analytics platform building the “Source of Truth” on companies and mapping the global economy.


In the table below, we took a close look at the top 20 growing ranked by employee growth rate (monthly average for past six months).




Out of the top 20 fastest growing unicorns, five are transportation sharing platforms (car and bike sharing), and one (WeWork) is in shared workspace. Other industries that top the list include trading platforms (Robinhood and Coinbase), eCommerce (Wish and Mercari), healthcare (iCarbonX and GRAIL), and cloud data analytics (Snowflake and Rubrik).


Next, we look at the top 20 shrinking unicorns:



In the top 20 shrinking, eCommerce companies (Mozido and Global Fashion Group) topped the list with a wide distribution of other categories also represented.

Finally, we looked at the total announced funding, current estimated headcount, and the average monthly headcount growth for all 157 unicorns, in the table below.


In the table above, we can see that out of the 157 unicorns, 139 are growing, while only 18 have negative growth. Further, the overall median growth rate is +2.4%. Looking at the overall distribution graphically below, we can again clearly see that the vast majority of unicorns are increasing in headcount. 



Key Takeaways:


  • Many more unicorns are growing rather than shrinking, with a median growth rate of +2.4%
  • The sharing economy continues to steam ahead, with six of the Top 20 Growing Unicorns list operating in this space


Sources:


  • News articles, company announcements, social media, and Craft analysis


About Craft:


Craft is a machine-learning powered data and analytics platform building the ‘Source of Truth’ on companies, and mapping the global economy. We organize data from thousands of sources to provide comprehensive, up-to-date sector and company profiles, ranging from early-stage to the largest companies in the world.


As the economy, and nature of work continue to undergo massive transformation, Craft’s mission is to provide context and freely available tools to help people discover and evaluate companies and opportunities. Our platform is used for market and sector research, customer lead generation, competitive analysis and career search.


We welcome your feedback. Please feel free to contact us at hello@craft.co.

Coinbase
HQ
Employees
1,249

Coinbase is a company that develops an online platform that allows merchants, consumers, and traders to transact with digital currency.

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Grail
HQ
Menlo Park, CA, US
Employees
707↑ 4% increase

Grail is a healthcare company engaged in cancer detection.

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Mercari
HQ
Palo Alto, CA, US
Employees
935↑ 3% increase

Mercari is a company that develops marketplace applications.

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Robinhood
HQ
Menlo Park, CA, US
Employees
2,873↑ 7% increase

Robinhood Markets is a provider of commission-free trading platform.

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Wish
HQ
San Francisco, CA, US
Employees
828

Wish (also known as ContextLogic) is a company developing a mobile e-commerce platform.

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Global Fashion Group
HQ
Sennengerbierg, LU
Employees
6,586↑ 2% increase

Global Fashion Group (GFG) is a company which operates five e-commerce fashion platforms in emerging markets.

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Human Longevity
HQ
San Diego, CA, US
Employees
74↓ 4% decrease

Human Longevity is a genomics and cell therapy company focused on extending the healthy, high performance human lifespan.

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XANT
HQ
Provo, UT, US
Employees
82↓ 10% decrease

XANT (formerly known as InsideSales) is a company that offers a comprehensive sales acceleration platform.

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Lookout
HQ
San Francisco, CA, US
Employees
474↑ 7% increase

Lookout is a provider of cloud-based cybersecurity solutions for mobile security for enterprises, government agencies, and individuals.

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Mobike
HQ
Singapore, SG

Mobike is a station-less bike share service.

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Fintiv
HQ
Austin, TX, US
Employees
5

Fintiv (previously known as Mozido) is a technology company focused on digital transformation.

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Ofo
HQ
Beijing, CN
Employees
428

Ofo is an urban bicycle sharing platform.

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Outcome Health
HQ
Chicago, IL, US
Employees
170↓ 12% decrease

Outcome Health is a healthcare innovation company providing a digital platform for patients, caregivers, and healthcare professionals.

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SMS Assist
HQ
Chicago, IL, US
Employees
733↑ 2% increase

SMS Assist is a company that provides an SMS proprietary technology platform.

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Snapdeal
HQ
New Delhi, IN
Employees
3,684

Snapdeal is a company that operates an online shopping portal.

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Yello Mobile
HQ
KR
Employees
24↑ 5% increase

Yello Mobile is a company operating as a mobile service and platform provider.

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Zenefits
HQ
San Francisco, CA, US
Employees
436↓ 3% decrease

Zenefits is a company developing HR and payroll software.

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ZocDoc
HQ
New York, NY, US
Employees
689↑ 3% increase

ZocDoc operates an online platform for finding and booking medical appointments in neighborhood.

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Zoox
HQ
Foster City, CA, US

Zoox is a company engaged in autonomous mobility development.

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