// SECTOR DOSSIER
ecommerce Unicorns
Every ecommerce unicorn we track — 127 private companies valued $1B or more, tiered by paper valuation. Combined balance sheet myth: $1,042B.
TIER 1 // APEX TARGETS
The Hectacorns $100B+ · 2
TIER 2 // PRIORITY TARGETS
The Decacorns $10B – $99B · 19
- Airbnb$75BUNITED STATES
- Shein$66BSINGAPORE
- DoorDash$45BUNITED STATES
- Alibaba$42BCHINA
- Xiaomi$35BCHINA
- Coupang$30BSOUTH KOREA
- Kuaishou$28BCHINA
- Fanatics$27BUNITED STATES
- Meituan-Dianping$25BCHINA
- Sea Limited$20BSINGAPORE
- Pinterest$17BUNITED STATES
- Flipkart$15.5BINDIA
- Klarna$14.6BSWEDEN
- OpenSea$13.3BUNITED STATES
- Faire$12.59BUNITED STATES
- Checkout.com$12BUNITED KINGDOM
- Whatnot$11.5BUNITED STATES
- Chehaoduo$10BCHINA
- Lalamove$10BCHINA
TIER 3 // STANDING HORDE
The Unicorn Herd $1B – $9.9B · 106
- Instacart$9BUNITED STATES
- Kavak$8.7BMEXICO
- Ola Consumer$7.3BINDIA
- Zalando$7BGERMANY
- Squarespace$6.9BUNITED STATES
- Xingsheng Youxuan$6BCHINA
- Back Market$5.8BFRANCE
- Rappi$5.25BCOLOMBIA
- Vinted$4.5BLITHUANIA
- Quince$4.5BUNITED STATES
- Yello Mobile$4.05BSOUTH KOREA
- Meesho$3.9BINDIA
- StockX$3.8BUNITED STATES
- Bukalapak$3.5BINDONESIA
- Mirakl$3.5BFRANCE
- GoPuff$3.5BUNITED STATES
- CARS24$3.3BINDIA
- Kurly$3.3BSOUTH KOREA
- TiendaNube$3.1BARGENTINA
- Veepee$3BFRANCE
- Paytm Mall$3BINDIA
- Traveloka$3BINDONESIA
- Forter$3BISRAEL
- VANCL$3BCHINA
- Delhivery$3BINDIA
- Jia.com$3B
- Automattic$3BUNITED STATES
- Mogu$3BCHINA
- Mercari$3BJAPAN
- Souche$3BCHINA
- Luckin Coffee$2.9BCHINA
- Daangn Market$2.7BSOUTH KOREA
- Woowa Brothers$2.6BSOUTH KOREA
- ManoMano$2.6BFRANCE
- The Hut Group$2.5BUNITED KINGDOM
- Infra.Market$2.5BINDIA
- Wayfair$2.5BUNITED STATES
- Paytm$2.5BINDIA
- Babytree$2.19BCHINA
- Webflow$2.1BUNITED STATES
- Three Squirrels$2.09BCHINA
- Clearco$2BCANADA
- Perch$2BUNITED STATES
- Uxin$2BCHINA
- Bucketplace$2BSOUTH KOREA
- Meicai.cn$2BCHINA
- Ankorstore$1.98BFRANCE
- Musinsa$1.89BSOUTH KOREA
- Avito.ru$1.82BRUSSIA
- Dutchie.com$1.7BUNITED STATES
- Vestiaire Collective$1.7BFRANCE
- Wayflyer$1.6BIRELAND
- Letgo$1.5BSPAIN
- Deliveroo$1.5BUNITED KINGDOM
- Jet.com$1.5BUNITED STATES
- Quikr$1.5BINDIA
- Farfetch$1.5BUNITED KINGDOM
- LivingSocial$1.5BUNITED STATES
- Koudai Gouwu$1.45BCHINA
- Yotpo$1.4BUNITED STATES
- Bucketplace$1.4BSOUTH KOREA
- Away$1.4BUNITED STATES
- Deliverect$1.4BBELGIUM
- Cart.com$1.27BUNITED STATES
- MyGlamm$1.2BINDIA
- Droom$1.2BINDIA
- BigBasket$1.2BINDIA
- Razor Group$1.2BGERMANY
- Merama$1.2BMEXICO
- CarDekho$1.2BINDIA
- Nykaa$1.2BINDIA
- Gilt Groupe$1.15BUNITED STATES
- Carousell$1.1BSINGAPORE
- GlobalBees$1.1BINDIA
- ShopClues$1.1BINDIA
- Global Fashion Group$1.1BLUXEMBOURG
- Purplle$1.1BINDIA
- Shippo$1BUNITED STATES
- Jollychic$1BCHINA
- Rebag$1BUNITED STATES
- Flash Express$1BTHAILAND
- Zhuanzhuan$1BCHINA
- Ninja Van$1BSINGAPORE
- Moglix$1BSINGAPORE
- Gymshark$1BUNITED KINGDOM
- Cinch$1BUNITED KINGDOM
- Fanli$1BCHINA
- Mia.com$1BCHINA
- Ebanx$1BBRAZIL
- IFood$1BBRAZIL
- Loggi$1BBRAZIL
- Printful$1BLATVIA
- Beauty Pie$1BUNITED KINGDOM
- Mensa Brands$1BINDIA
- Beibei$1BCHINA
- Bluecore$1BUNITED STATES
- Carro$1BSINGAPORE
- Berlin Brands Group$1BGERMANY
- Thrasio$0.5BUNITED STATES
- Groupon$0.3BUNITED STATES
- Rent the Runway$0.1BUNITED STATES
- Tokopedia$0BINDONESIA
- Wolt$0B
- Deliverr$0B
- Zulily$0B
- Ele.me$0B