VC Boom 💸
Venture Capitalists have always been big spenders, launching thousands of startups over the years, hoping that a few of them make it big. From Uber to Airbnb, some of the biggest companies were once small startups, but, with entrepreneurial grit, a good idea, the help of venture capitalists, and of course, a bit of luck, they became unicorns. In the startup world, unicorns are companies with a one billion dollars or higher valuation, marking some of the most prominent startups. Last year venture capitalists had one of their most significant years yet, investing $675 billion in startups worldwide. This massive figure doubled 2020′s previous all-time highs. With COVID continuing in different forms and variants, the continued flow of money into startups highlights the way innovation booms in the face of adversity. Moreover, the number of “unicorns” continued to rise, with around 133 startups in the San Francisco Bay Area alone hitting the coveted valuation of over $1 billion.
Following suit, the East Coast boosted impressive numbers with 69 unicorns in New York and 21 in Boston. Beyond the U.S, London saw 20 unicorns, Berlin saw 15, and Bengaluru saw 16. On the international scale, though, the U.S and China remain in the lead with few firms elsewhere rivaling the size of Alphabet, Apple, Amazon, Meta or Microsoft, or Alibaba and Tencent in China. With Web3 and the Metaverse just kicking off, a whole host of new startups could be coming, and eventually, more and more assets to invest into – a great reminder to set up an Invstr premium account if you haven’t already to gain access to some of the hottest cryptocurrencies out there.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.