2020: Year of the Unicorn

2020 has been crazy (and depending how the U.S. elections shake out, could get crazier). We don’t need to talk much about it, other than it’s been one massive curveball, in every sense of the word. Despite a global recession, a whopping FIFTY startups became unicorns this year.

What is a unicorn? The ultimate dream of every startup, a unicorn is valued at $1 BILLION.

While we won’t list down the entire class of 2020 unicorns, you can check out a listing here. Unsurprisingly, the United States remains the best place in the world to raise capital as a startup. The vast majority of unicorns hail from America, with a smattering from the other continents.

Some standout members of the unicorn class include Udemy and Gong, both applications that have seen their users and subsequently their monthly recurring revenue (MRR) skyrocket thanks to the massive lockdowns that have swept the globe. Working from home seems to be something that is sticking around, and software valuation is beginning to reflect that.

There are a number of unicorns that aren’t in the digital sphere, however. Cult clothing store Gymshark is one of them, and the farming sector got itself a unicorn through the Farmer’s Business Network. All in all, these startups have proven that adversity comes with opportunity.