Heard on the Street: China’s number of private startups valued at over $1 billion now exceeds the U.S.’s, but funding is drying up and exit opportunities fading
There hasn’t been much good news for unicorns in the U.S. recently. Things aren’t much better for these magical creatures in China either.
The WeWork debacle, as well as plunging share prices of now-public Uber and Lyft, have investors questioning the actual worth of these highly-valued private companies. Meanwhile in China, the number of unicoms—private startups valued at more than $1 billion—has just edged ahead of the U.S., according to a report published by Deloitte and research firm China Venture.
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