Forbes List Predicts Over 100 Unicorn Startups in 10 Years

In its tenth consecutive year, Forbes, in collaboration with TrueBridge Capital Partners, has unveiled its list of the 25 U.S.-backed companies poised to achieve a $1 billion valuation. This year, artificial intelligence (AI) has emerged as a dominant theme, with 131 out of 225 alumni from previous lists achieving unicorn status. Notable successes include DoorDash, Figma, and Anduril, although 21 of these companies have since fallen below the billion-dollar mark. The list has seen minimal failures, with only five startups shutting down, including the infamous microbiome company uBiome. Among the standout companies from previous years is Tanium, a cybersecurity firm that was one of three to surpass the billion-dollar valuation before the list's publication. Other notable alumni include Anduril, valued at $14 billion, and Duolingo, which is now publicly traded with an $8 billion market cap. The semiconductor startup Astera Labs, which made the list in 2022, has also seen significant growth, reporting $230 million in revenue and projecting $95 million to $100 million for the upcoming quarter. This year’s list highlights a commitment to diversity, featuring five companies with female cofounders and CEOs, a slight decrease from last year. However, the average previous year’s revenue for this year's startups is notably lower, at $14 million compared to $24 million in 2023, indicating a shift in the startup landscape as it adapts to current economic conditions.