186 companies joined China's US$1 billion unicorn club in 2018, with a combined valuation exceeding 5 trillion yuan (US$741.97 billion). Sequoia Capital owns stakes in 49 unicorns of the 186 unicorns. 30 unicorns are affiliated with Tencent, 21 with IDG, and 17 with Alibaba. Hangzhou is home to 18 unicorns and surpasses Shanghai (42 unicorns valued at 800 billion yuan) with total valuation of 1.3 trillion yuan thanks to Ant Financial.
Alibaba's Ant Financial turned out to be the most ...
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