Billion dollar startups thriving across Europe
Have you ever thought what it’s like to found a billion dollar startup business? It looks like nine out of ten start-ups go bankrupt, but some of those which survive, can become big on their market. In Europe there are about 40 startups worth over a billion dollars each, and a survey study made by GP.Bullhound highlights the ideas that propelled these businesses so high.
European unicorns on increase (public domain)
Only in the last year, 13 technology startups added up to the list of unicorns -i.e. enterprises over a billion dollars- while three dropped off the same list.
Where can you find the greatest opportunities for creating “unicorn” in Europe? Well, according to the survey, 17 of the 40 are located in the UK, 6 are from Sweden and 4 are hosted by Germany and Russia individually. All 40 European startups are in overall worth $120 billion, a number which shows how far Europe remained behind the U.S. where only Apple is worth 737 billion dollars, and Facebook $230 billion.
Bullhound statistics shows also that more than half of the unicorn creators were 30+ year-old while less than a quarter were under 30 when founded the businesses. 35 seems to be the average age of the founders.
It is important for the founders’ team to remain intact as 87% of the companies have at least one founder in the leading board while only 13% of companies have no founder in the management team.
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Funding is an important factor as well, and the startups that got to be worth over a billion dollars received on average funding of $140 million (the funding margins are $50 million and over 300 million).
In terms of the number of financiers, more than a third of the “Unicorns” received financing from 5-8 companies. For example Spotify was helped by 17 investors, while King by only two.
What are the most successful areas for billion-dollar startups? E-commerce and software have each 20% of the marketplace while FinTech and Gaming take up 18% and 14% respectively.
In business, the name of unicorn was created in 2013 to highlight the billion dollars/euros milestone that can be reached by a startup. These companies were called “unicorn” also because they are generally rare.