In the tech community, the term Unicorn was initially used to describe the rare, fast-growing startups that were valued at $1 billion by VC firms. (Chicago-based Groupon was among the first tech companies to earn the unicorn status and still remains the fastest company to even be valued at $1 billion). But today, there are more than 80 tech unicorns, and it seems like a new billion-dollar valuation is announced every week.
Whether or not you believe these companies deserve a 10-figure valuation, you can’t argue that they’re not disrupting industries and changing the way people live their lives and how business gets done. But how can you tell which companies stand out from the rest? Ask their customers.
B2B software companies make up a significant portion of the unicorn list, and Chicago-based software review company G2 Crowd set out to find the $1 billion startups that ranked highly in terms of customer satisfaction. In a newly published GridScape, G2 Crowd measured 19 products from companies with billion dollar-plus valuations based on customer satisfaction and market presence.
“Naturally, we wondered if these products are living up to all the hype and delivering top notch products and services to their customers,” G2 Crowd said in the report.
DocuSign, Dropbox, Evernote, and Hootsuite were among the leaders in the report, as they all displayed a strong market presence and positive customers reviews. Pictured next to the GridScape is a list of the companies ranked from highest to lowest valuation.
As you can see, a high valuation doesn’t always mean the company has the most beloved product. Square, for example, has the second highest valuation among the 19 companies but is around middle of the road when it comes to customer satisfaction.
Image via G2 Crowd