"Unicorn"

Despite the impacts of Covid-19 outbreak that have affected several industries in Thailand, in the year 2021 the country still manages to see up to three startup companies becoming ‘unicorns’, a term dedicated to startups valued at more than $1 billion. These companies are Flash Group, Ascend Money and the newcomer Bitkub.

Bangkok, Thailand 27 October 2021 – The startup landscape in Thailand is heating up, following the latest successful funding round of Thailand’s first ‘Unicorn,’ Flash Group – AKA a privately-owned startup with a valuation of over $1 billion (around 30 billion Thai Baht).

In today’s world, start-ups are playing such a major role both internationally and domestically that they could change the very face of the global economy.

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THE Wallstreet Journal lists 168 "unicorns", a term venture capitalist Aileen Lee coined to describe start-ups valued at over US$1 billion (Bt33.21 billion). Why "unicorns"? Because they remain very rare. The US, of course, gets the lion's share, including giants like Uber, Airbnb and Snapchat. But Malaysia and Indonesia have recently entered the club. Thailand? Not yet.