Tech

THE BILLION-DOLLAR CLUB: 12 Startups With Skyrocketing Valuations

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After watching startups like Facebook, Zynga, and Groupon explode in valuation, VCs are now pouring money into the next crop of startups.

Valuations are skyrocketing as VCs compete to get in the next hot deal. They don't want to miss out.

And suddenly, a lot of founders are finding themselves in the billion-dollar club.

Do they deserve it? Let us know in the comments.

Quora has an $86 million valuation but thinks it's a billion-dollar company already

quora
Synthesis

Quora is an $86 million-dollar company with a billion-dollar state of mind.

So far it has raised $11 million at an $86 million valuation from Benchmark Capital and individual investors.

Earlier this year it was rumored to be raising another round, but was rejecting offers that would make its valuation a "mere" $300 million.

The founders think Quora has far more potential than that.  It supposedly turned down a $1 billion acquisition offer.

Foursquare hasn't found a way to make money, but it is valued at $600 million.

Dennis Crowley Foursquare
Matt Rosoff

Location-based check in startup Foursquare closed a $50 million round in June. That's in addition to the $20 million it previously raised.

Foursquare's rumored valuation has been as high as $1 billion, but it is likely closer to $600 million .

Appnexus raised a $50 million round, sending it closer to the billion-dollar club.

Brian O'Kelley of AppNexus

Last year, ad bidding network Appnexus raised a $50 million Series C round.

It has raised $65.5 million so far, and is well on its way to a $1 billion valuation.

ZocDoc closed a $50 million round yesterday at a $700 million valuation

zocdoc
ZocDoc

ZocDoc, a service for booking appointments online, closed a $50 million round from DST yesterday.

The company launched in 2007 and now has an estimated valuation of $700 million.

Spotify's latest $100 million round shot it up to a $1 billion valuation.

daniel ek, spotify ceo
AP Photo

The music company raised $100 million in June from Kleiner Perkins, Accel and DST, giving it a $1 billion valuation. 

We've yet to see a wildly profitable online music company, though, and Spotify needs to figure out how to make money. It has to pay record labels a lot, so without a clear business model, the valuation looks airy.

Storm8 is rumored to be raising a $300 million round, which would give it a $1 billion valuation

storm8
Storm8

TechCrunch says mobile gaming company Storm8 is raising a whopping $300 million round.  Accel Partners and Technology Crossover Ventures could be leading the charge.

If it closes, Storm8 will be bumped up to billion-dollar-valuation status.

Square also has a $1 billion valuation.

Jack Dorsey

Jack Dorsey's mobile payment solution, Square, is another billion-dollar startup.

Kleiner Perkins led a $100 million round of financing at the end of June. Now the company has a $1 billion valuation; some wonder if it could be worth as much as $2 billion.

Gilt Groupe raised $138 million in March and has a $1 billion valuation.

kevin ryan, startup 2011

Earlier this year, the flash sales site raised an additional $138 million.

It's on track to generate $500 million in revenue this year.

Airbnb recently joined the $1 billion valuation club when it raised $112 million.

Airbnb founders
Airbnb

Despite all the negative press, Airbnb is doing very well.

In 2010, bookings grew 800% to 800,000; that number is increasing by 40-50% per month.

Last month it raised a massive $112 million round, reaching a billion-dollar valuation.

Vente Privee is a $3 billion company that's trying to become a $15 billion company.

jacques-antointe granjon vente privee
Photo by Flickr user titlap

Private sales site Vente Privee currently has a $3 billion valuation, but its founder, Jacques-Antoine Granjon, wants that number to be much higher.

In 2010, Vente Privee's revenue was $1.3 billion. This year it is on track to do $1.5 billion. Granjon wants that number to become $15 billion by turning his site into the Amazon of Europe.

Dropbox is leading the pack with a valuation between $5 and 10 billion.

drew houston dropbox

Dropbox closed a $7.2 million round in 2007, but it is rumored to be raising a more substantial round now.

TechCrunch heard that the file storing/sharing company is raising between $200 and $300 million.

Depending on the final number, Dropbox's valuation could jump from $2 billion to $5 or $10 billion.

WILD CARD: Rovio only has a $200 million valuation, but if Angry Birds keeps its momentum, it could become a billion-dollar company.

angry birds
By Nick Chill Photography on Flickr

Last year, the Angry Birds maker generated $5 million in revenue and $3 million in profits.

In March, Rovio raised a massive round, shooting its valuation up to $200 million.  It's a bit of a stretch, but if Angry Birds keeps up its momentum, it could turn Rovio into a billion-dollar company.

For more rising stars, check out:

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Melody McCloskey founded StyleSeat

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Alyson is the Editor-in-Chief and CCO at Fortune.  She was previously a co Editor-in-Chief overseeing Business Insider's tech and business coverage.She joined Business Insider in July 2008 as the company's sixth employee. She started as a sales planner before joining the editorial team in 2010, where she became a startup reporter and was first to cover some of today's largest tech companies, including Pinterest, Tinder, Instagram, Uber and Snap. Alyson rose to become a senior correspondent, then Executive Editor.She was appointed Editor-in-Chief of Business Insider in 2016, at which point she became the youngest and only woman to run a global business publication. Under her leadership, the business division has grown to hundreds of  millions of monthly readers.Alyson was a host of  Insider's conferences and launched a podcast, "Success! How I Did It," where she interviewed influencers ranging from Sheryl Sandberg to Steve Ballmer about their career paths (subscribe on iTunes here).She has appeared on ABC, Good Morning America, Al Jazeera, MSNBC, CNBC, CNN, and CBC, and she has interviewed media personalities such as Megyn Kelly, technology leaders like Fred Wilson, political leaders like John Brennan, and sports star LeBron James. She is a judge for the prestigious Gerald Loeb Awards in business journalism, and has been named one of Min's Rising Stars in Media, as well as Folio's 2017 Top Women in Media.She graduated from Syracuse University's Newhouse School of Public Communications, where she majored in psychology and advertising.You can read some of her investigative articles here:Leaked videos reveal the true founding story of SnapchatThe founder who dumped Jared Kushner: Inside the phone call that left the White House star in a fit of rageThe downfall of billion-dollar startup, FabHow a startup that raised the largest seed round in Silicon Valley history blew itself up before it even launchedThe dark side of Facebook, where people lie, cheat, and make millionsA profile of Uber's controversial CEO, Travis KalanickThe mystery of Jody Sherman, a founder who was driven to suicide and left behind a shocking business disasterDisclosure: Alyson owns bitcoin and Snap. She is also an investor in The Spun, a sports-media startup founded by her husband.