Number of leading unicorns APAC 2023, by sector
In 2023, five out of the 31 highest valued unicorn companies in the Asia-Pacific region were operating in the e-commerce sector. Out of these five, Chinese fast fashion retailer Shein was the highest valued at around 65 billion U.S. dollars. That year, ByteDance, the Chinese company behind short-form video platform TikTok and its Chinese counterpart Douyin, was the highest valued unicorn in APAC as well as globally.