UK is home to Unicorns

The UK has 17 companies whose start up valuation, when launched on the stock market, was $1bn or more (they are known as "Unicorns"). The vast majority of these are tech companies, including AO world, ASOS, Rightmove and Zoopla. In the last 12 months the UK has had seven unicorns, including Shazam and Farfetch, compared to six from the rest of Europe, however there were 22 in the US. Tech analyst, Manish Madhvani, said, “The UK has raced ahead as the undisputed home of unicorns in Europe. Growth is accelerated because we have created an environment capable of sustaining high levels of investment across a range of tech sector”. Max Gregory, UK chief economist at Ernst & Young, said, “There is now a growing belief that the next global tech giant will come from London”.  [ source: GTAssociates ]