We had the opportunity to hear about the unicorn, a mythical creature usually described as a horse with a single horn on its forehead, which has become a symbol of purity, strength and nobility in Western culture, in fairy tales or in animated series. The name of these mythical beings from small screens and children’s books has “migrated” to the adult world and has become ubiquitous in business. The term unicorn refers to a private company whose estimated value has reached or exceeded one billion dollars. This term was first used in 2013 by Aileen Lee, founder of Cowboy Ventures, to describe rare startups that reach such a value.
Where are unicorns predominantly active?
Unicorns are typically technology companies that have been able to attract significant investment and grow rapidly thanks to innovative products or services. These companies often operate in industries such as technology, software, e-commerce or fintech.
According to data from the CB Insights platform analyzed by the team at Best Brokers, an online investment information platform, there are currently 202 unicorns in Europe with a total value of $561.7 billion (around €510 billion). This data shows a growth of $20.7 billion (around €18.7 billion) since June 2023. Bosnia and Herzegovina (BiH) does not yet have its own unicorn, except that it is home to a branch of Infobip, one of the most successful global IT companies. Infobip began as a small startup in Vodnjan, Istria, and today employs more than 3,000 people worldwide and operates in more than 70 offices on six continents. Four years ago, Infobip became the first Croatian unicorn, that is, an unlisted company with a billion-dollar valuation.
The most valuable European unicorn
The startup scene in Bosnia and Herzegovina recorded growth in 2024, jumping four places compared to the previous year and overtaking Paraguay.
According to CB Insights, the most valuable European unicorn is the British fintech Revolut, which is valued at 33 billion dollars (around 29.9 billion euros), making it the seventh most valuable unicorn in the world.
There are 1,241 tech companies worldwide with unicorn status, whose estimated value exceeds one billion dollars. In total, they are worth 3.9 billion dollars (around 3.5 billion euros), writes Forbes.
E.Dz.
