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Bloomberg (March 18)

2016/ 03/ 20 by jd in Global News

Mercari Inc. just “became the first Japanese startup worth at least $1 billion,” making it Japan’s only unicorn. “Though the valuation is an accomplishment for Mercari, it also highlights the dearth of major private startups in the world’s third-largest economy.” Of the 155 unicorns worldwide, 92 are in the U.S., 25 in China, seven in India and only one in Japan. “Japan has suffered from a lack of venture capital and a risk-averse culture where the best and brightest strive for stable jobs at big companies and then stay for life.”

 

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