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The gripe used to be that Europe had yet to prove it could be home to multiple $1 billion+ businesses. We have decisively put that question to rest.
The gripe used to be that Europe had yet to prove it could be home to multiple $1 billion+ businesses. We have decisively put that question to rest. Momentum has accelerated, and now we are able to regularly build businesses that surpass the $5 billion+ threshold and have produced two in the $15 billion+ range. However, what we are missing still is an iconic and enduring category leading business, based in Europe that has scaled globally and is valued over $50 billion. I do believe this too is just a matter of time.
The 2010s have already produced 15x more $1 billion+ companies by Year 8 (2018) of the decade compared to the equivalent point (2008) of the 2000s. The cohort from that earlier decade grew from 2 in 2008 to 31 today. Based on a similar expansion of the cohort from the 2010s, it's not far from unrealistic to imagine 30 companies today from this decade growing to more than 100.
# of European tech companies by founding year decade that had reached a $1B+ milestone by Year 8 and Year 18 of the decade (Year 18 for 2010s cohort illustrative only)
Legend
- 2000s
- 2010s
- Note:
- $1B+ European tech companies split by the decade of the founding year. The 100 number shown for Year 18 of the 2010s is illustrative only.