Tencent has backed the highest number of China's unicorns at 13.
Today, there are 46 unicorns (companies valued at $1B or higher) based in China.
18 (39%) of those companies are backed by at least one of China’s four largest Internet giants — Alibaba, Baidu, JD.com, & Tencent (BATJ) — or their affiliates like Ant Financial.
Many of these unicorns benefit greatly from BATJ as distribution channels. Didi Chuxing and Meituan-Dianping, for example, are featured prominently on Tencent’s WeChat’s “Wallet” portal. WeChat today counts more than 800 million monthly users.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
