The global e-commerce industry features 177 unicorn startups. They span across areas including fashion, on-demand services, and automotive sales.
Singapore's Shein leads the group with a $66B valuation. Chinese community shopping platform Xingsheng Youxuan has also attracted $5.2B in total funding.
Below is the full list of 177 E-Commerce unicorn startups at this time.
Top 10 Most Valuable E-Commerce Unicorns
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Get the Sheet for $50Shein operates a global fast-fashion e-commerce platform that sells apparel, accessories, beauty products, and home goods. They are known for their direct-to-consumer model which provides a vast catalog of trendy items at low prices.
| Valuation | $66B (Joined July 2018) |
| Headquarters | Singapore, Central Region, Singapore |
| Year Founded | 2008 |
| Founders | Chris Xu, Yangtian Xu |
| Funding Amount | $4.1B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | Tiger Global Management, Mubadala, General Atlantic, IDG Capital, HSG |
Alibaba Bendi Shenghuo Fuwu Gongsi is the holding company for two of China's leading on-demand service platforms, Ele.me and Koubei. Together, these services connect users with food delivery, restaurants, and other local businesses.
| Valuation | $30B |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2018 |
| Founders | Mohd Fairuz Razi bin Sharuddin |
| Funding Amount | $4B |
| Company Size | No Data |
| Last Funding Status | Private Equity |
| Top Investors | SoftBank Vision Fund, Ant Group, Primavera Capital Group, Alibaba Group |
Xiaohongshu runs a popular social commerce app where users share lifestyle inspiration and product reviews. The platform is built around a vibrant community, blending content discovery with e-commerce to influence shopping habits.
| Valuation | $17B (Joined March 2016) |
| Headquarters | Shanghai, Shanghai, China |
| Year Founded | 2013 |
| Founders | Charlwin Mao Wenchao, Miranda Qu |
| Funding Amount | $917.7M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series E |
| Top Investors | Alibaba Group, Tencent, Hillhouse Investment, Temasek Holdings, HSG |
Trendyol Group operates Turkey's leading e-commerce platform, connecting millions of consumers to a vast marketplace with a strong focus on fashion. They have also built a broader digital ecosystem that includes services for last-mile delivery, instant grocery shopping, and online payments.
| Valuation | $17B |
| Headquarters | Istanbul, Istanbul, Turkey |
| Year Founded | 2009 |
| Founders | Demet Suzan Mutlu |
| Funding Amount | $1.9B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | Tiger Global Management, General Atlantic, Kleiner Perkins, ADQ, Alibaba Group |
Gopuff runs a digital delivery service that brings daily essentials to customers' doors within minutes. They operate a network of micro-fulfillment centers stocked with everything from snacks and drinks to cleaning supplies, allowing for rapid order fulfillment.
| Valuation | $15B (Joined October 2020) |
| Headquarters | Philadelphia, Pennsylvania, United States |
| Year Founded | 2013 |
| Founders | Rafael Ilishayev, Yakir Gola |
| Funding Amount | $3.4B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Venture Round |
| Top Investors | Valor Equity Partners, Fidelity, Accel, Adage Capital Management, Headline |
Faire has built an online wholesale marketplace that connects independent retailers with a curated selection of brands. Their platform simplifies how local shops discover and stock their stores with unique products from around the world.
| Valuation | $13B (Joined October 2019) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2017 |
| Founders | Daniele Perito, Jeffrey Kolovson, Marcelo Cortes, Max Rhodes |
| Funding Amount | $1.7B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Corporate Round |
| Top Investors | Norwest, Lightspeed Venture Partners, Khosla Ventures, Sequoia Capital, Wellington Management |
Whatnot built a livestream shopping platform for buying and selling goods, particularly collectibles. They are known for their live auction format which allows sellers to showcase products to a community of buyers in real time.
| Valuation | $12B (Joined September 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2019 |
| Founders | Grant LaFontaine, Logan Head |
| Funding Amount | $974.7M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series F |
| Top Investors | Andreessen Horowitz, Y Combinator, Sequoia Capital, Bond, Lightspeed Venture Partners |
Xingsheng Youxuan runs a community e-commerce platform for groceries and other household goods. They are known for a group-buying model that lets neighbors consolidate orders for lower prices and convenient pickup within their community.
| Valuation | $12B |
| Headquarters | Changshahsien, Hunan, China |
| Year Founded | 2018 |
| Founders | Lihua Yue |
| Funding Amount | $5.2B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Venture Round |
| Top Investors | Primavera Capital Group, Tencent, Ontario Teachers' Pension Plan, HSG, Temasek Holdings |
Thrasio built its business by acquiring and growing successful third-party brands on Amazon. They take over these promising e-commerce businesses and use their operational expertise to scale them into widely recognized consumer product lines.
| Valuation | $10B |
| Headquarters | Walpole, Massachusetts, United States |
| Year Founded | 2018 |
| Founders | Carlos Cashman, Ernesto Reza, Joshua Silberstein |
| Funding Amount | $3.4B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Venture Round |
| Top Investors | BlackRock, Advent International, Monroe Capital, UBS, JP Morgan Chase |
Chehaoduo operates an online car trading platform that directly links individual sellers and buyers. Their marketplace, Guazi, is designed for consumer-to-consumer used vehicle transactions, bypassing traditional dealerships.
| Valuation | $10B (Joined March 2016) |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2015 |
| Founders | Mark Yang |
| Funding Amount | $3.8B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series E |
| Top Investors | HSG, IDG Capital, Matrix Partners China, Sequoia Capital, Tencent |
The Remaining 167 E-Commerce Unicorns
The ten most valuable companies get much of the attention, but they only tell part of the story. While the US, China, and India host the largest number of these startups, the e-commerce boom is happening worldwide. Some are just getting started and others are already well established. Here’s a look at the other unicorn startups shaping the industry.