China's unicorn enterprises reach $210b in market value

Ant Financial, founded in 2014, ranked at the top among the 29 unicorn big data companies with an estimated market value reaching nearly $75 billion, followed by DiDi, Meituan Dianping and Toutiao.com, Huang Bo, co-founder of China's new economic think tank, Beijing Greatwall Strategy Consultants research institute, said Friday.

Unicorn companies refer to those founded within 10 years whose estimated value surpassed $1 billion, Huang said.

Data from the internet and government laid the foundation for industrial development. Data-driven enterprises, which apply big data into different services, show great potential in the future, he said.

Average market value of data–driven enterprises, reached $3.56 billion, compared with $510 million of traditional data technology companies, the report said.