Despite market turmoil and falling valuations, 174 US companies have attained the coveted unicorn status this year, meaning they raised money at a valuation of at least $1 billion.
While down from a record 2021, this year is on track to be one of the biggest ever for new unicorns. Of course, with both public and private markets falling precipitously and the “crypto winter” upon us, it’s unclear whether this new class of billion-dollar companies can hold on to their sky-high valuations for the long term, since they could end up in painful down rounds.
For instance, FTX US, the US arm of Sam Bankman-Fried’s embattled crypto empire, briefly enjoyed an $8 billion valuation this year before being publicly marked down to zero after the spectacular implosion of its parent company.
There’s also the case of the Tampa, Florida, Web3 platform Pocket Network, which started off the year worth $1.5 billion, only to see its valuation fall to $100 million amid spiraling cryptocurrency prices. Even Binance.US, which achieved a $4.7 billion valuation in March, may soon face its own crypto reckoning as questions swirl about the health of its parent company.
The list, using data from PitchBook, is based on each company’s post-money valuation as of its most recent publicly available funding information and is organized alphabetically.
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