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Unicorn Media Index Q1'16: Who Ranks Where Across News, Social and Search?

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This quarterly study benchmarks earned media visibility and momentum for 145 unicorn startups, looking across news, social and search. Who are the stars, superstars and megastars? Who's rising and falling?

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Unicorn Media Index Q1'16: Who Ranks Where Across News, Social and Search?

  1. 1. Unicorn Media Index™: Who Ranks Where Across News, Social and Search? Q1’16 Edition
  2. 2. VISIBILITY + MOMENTUM: WHO RANKS WHERE AND WHY? Unicorns are a phenomenon. Over the past two years, they have gone from mythical creature to tech meme – spawning greed and envy for global entrepreneurs, investors and recruiters. Some claim we’re now in a “post-unicorn” world and yet the class of $1B+ private companies continues to expand and contract weekly – providing a valuable microcosm to understand today’s tech trends and startup dynamics. To that end, this report studies 145 unicorns to benchmark their visibility and momentum across news, social and search channels. This is especially relevant because startups need “out-sized” visibility to attract customers and prospects, and they need to demonstrate momentum for recruiting top talent and investors. We built our unicorn list based on three primary sources: Dow Jones VentureSource; CB Insights; and CrunchBase. We then used specialized media analysis tools to track monthly News, Social and Search volumes for each company. Finally, we applied our Earned Media Index™ methodology to aggregate performance for easy comparison of visibility and momentum over time. As we learned in our pilot study of 75 unicorns, it’s clear that unicorn status and valuation alone do not dictate media performance. Some “megastars” and “superstars” rise above the herd. Some grew their visibility in Q1 while others declined. And all are impacted by a mix of category performance, company success factors and channel dynamics. We look forward to your feedback… 2
  3. 3. UNICORN MEDIA INDEX Q1’16: KEY FINDINGS Snapchat breaks out as runaway social media phenomenon •  Snapchat (#1 earned media, #7 valuation) is up 81% over 2015, nearly doubles #2 Pinterest Uber jumps up to #3 ranking in otherwise stable top 12 •  Pinterest (#2 earned media, #11 valuation) stays a strong second with 3% increase over 2015 •  Uber (#3 earned media, #1 valuation) moves up from #6 with 28% increase in earned media •  Airbnb (up 21%) and Snapdeal (down 15%) swap positions at #8 and #9 Rankings led by 11 “megastars,” 8 “superstars” and 22 “stars” •  Megastars and superstars averaged a 15% increase in Q1’16, with 10 risers and 5 decliners •  Media stars likewise averaged a 26% increase, with 8 risers and 5 decliners Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 3
  4. 4. UNICORN MEDIA INDEX Q1’16: KEY FINDINGS Valuation influences but doesn’t dictate earned media performance •  Docker, Zomato Media and 8 others out-performed their valuation ranking by 70+ positions •  Eight of the 10 significant under-performers are Chinese firms with limited global visibility Other companies of note •  Github led the B2B pack to become a “megastar” in Q1, fueled by its developer fan base •  Slack added 35% in Q1 to graduate from “star” to “superstar” – another B2B standout •  Zenefits grew 93% on CEO resignation, compliance investigation and “sex in the stairwell” •  Theranos also grew 56% on bad news, including 57 monthly news stories (vs. 34/month in 2015) •  DJI declined 39% on drone fatigue, while Magic Leap jumped 73% on virtual reality buzz Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 4
  5. 5. UNICORNS ARE NOT CREATED EQUAL MEDIA MEGASTARS (Earned Media Index > 10.00) Company Q1’16 Rank Q1’16 Index Q1’16 Change 2015 Rank 2015 Index Snapchat 1 89.71 ▲81% 1 49.55 Pinterest 2 45.38 ▲3% 2 44.24 Uber 3 42.05 ▲28% 6 32.88 Spotify 4 40.39 ▲6% 3 38.01 Dropbox 5 34.22 ▼4% 4 35.76 Flipkart 6 30.78 ▼10% 5 34.34 Xiaomi 7 24.55 ▼4% 7 25.63 Airbnb 8 22.67 ▲21% 9 18.77 Snapdeal 9 17.63 ▼15% 8 20.67 BuzzFeed 10 16.06 ▲2% 10 15.75 Github 11 10.73 ▲13% 11 9.46 MEDIA SUPERSTARS (Earned Media Index > 5.00) Company Q1’16 Rank Q1’16 Index Q1’16 Change 2015 Rank 2015 Index Credit Karma 12 7.84 ▲23% 12 6.37 Lyft 13 7.76 ▲49% 14 5.22 BlaBlaCar 14 6.45 N/A N/A N/A Evernote 15 6.22 N/A N/A N/A Tango 16 5.71 N/A N/A N/A Razer 17 5.55 N/A N/A N/A Slack 18 5.53 ▲35% 16 4.09 SpaceX 19 5.25 ▼2% 13 5.33 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 5
  6. 6. UNICORNS ARE NOT CREATED EQUAL MEDIA STARS (Earned Media Index > 1.00) Company Q1’16 Rank Q1’16 Index Q1’16 Change 2015 Rank 2015 Index Jawbone 20 3.15 ▼30% 15 4.49 Zomato Media 21 2.22 N/A N/A N/A Quikr 22 2.21 N/A N/A N/A MongoDB 23 1.81 ▼4% 21 1.89 FanDuel 24 1.77 ▼24% 19 2.34 Houzz 25 1.71 ▲13% 24 1.51 DraftKings 26 1.70 N/A N/A N/A DJI 27 1.61 ▼39% 18 2.64 Nutanix 28 1.58 ▲31% 26 1.21 Magic Leap 29 1.56 ▲73% 30 0.90 JustFab 30 1.50 N/A N/A N/A MEDIA STARS (Earned Media Index > 1.00) Company Q1’16 Rank Q1’16 Index Q1’16 Change 2015 Rank 2015 Index Blue Apron 31 1.44 ▲62% 31 0.89 Ola Cabs 32 1.41 ▲18% 27 1.20 Cloudera 33 1.37 ▼20% 22 1.72 Docker 34 1.34 N/A N/A N/A Zenefits 35 1.29 ▲93% 37 0.67 Instacart 36 1.26 ▼18% 23 1.54 Eventbrite 37 1.23 N/A N/A N/A CloudFlare 38 1.22 N/A N/A N/A Didi Chuxing (Didi Kuaidi) 39 1.22 ▲33% 29 0.92 Stripe 40 1.07 ▼23% 25 1.39 Warby Parker 41 1.03 ▲5% 28 0.98 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 6
  7. 7. EARNED MEDIA VS. VALUATION TOP 10 OVER-PERFORMERS (Earned Media Rank vs. Valuation Rank) Company Q1’16 Index Q1’16 Rank Valuation Rank Over/ Under Docker 1.34 34 139 +105 Zomato Media 2.22 21 124 +103 Quikr 2.21 22 121 +99 Tango 5.71 16 110 +94 Evernote 6.22 15 108 +93 Avast 0.76 51 143 +92 JustFab 1.50 30 114 +84 Udacity 0.73 53 136 +83 Twilio 0.79 49 126 +77 Eventbrite 1.23 37 109 +72 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. TOP 10 UNDER-PERFORMERS (Earned Media Rank vs. Valuation Rank) Company Q1’16 Index Q1’16 Rank Valuation Rank Over/ Under Zhong An 0.02 128 17 -111 Lufax 0.04 121 13 -108 UberChina 0.04 120 18 -102 VANCL 0.01 135 34 -101 ContextLogic 0.01 131 38 -93 Trendy Group 0.00 141 49 -92 Garena Online 0.08 110 28 -82 Global Fashion Group 0.08 111 31 -80 Lakala.com 0.00 144 64 -80 Meituan-Dianping 0.21 80 6 -74 7
  8. 8. UNICORN MEDIA INDEX Q1’16: TOP 10 0 20 40 60 80 100 120 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 EarnedMediaIndex™score 1. Snapchat 2. Pinterest 3. Uber 4. Spotify 5. Dropbox 6. Flipkart 7. Xiaomi 8. Airbnb 9. Snapdeal 10. BuzzFeed Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 8
  9. 9. UNICORN MEDIA INDEX Q1’16: TOP 20 Rank Company Index News/Search/Social Volume 11 Github 10.73 813 1,500,000 119,931 12 Credit Karma 7.84 11 7,026,667 4,420 13 Lyft 7.76 595 516,667 222,353 14 BlaBlaCar 6.45 14 5,746,667 1,197 15 Evernote 6.22 344 2,240,000 30,535 16 Tango 5.71 19 5,000,000 4,559 17 Razer 5.55 361 1,014,333 152,826 18 Slack 5.53 506 50,167 27,773 19 SpaceX 5.25 368 557,667 184,255 20 Jawbone 3.15 240 483,333 20,884 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. Rank Company Index News/Search/Social Volume 1 Snapchat 89.71 1,473 35,433,333 8,760,599 2 Pinterest 45.38 451 34,933,333 571,453 3 Uber 42.05 2,433 8,586,667 1,706,832 4 Spotify 40.39 1,572 16,600,000 1,375,792 5 Dropbox 34.22 936 21,900,000 73,096 6 Flipkart 30.78 736 20,400,000 154,783 7 Xiaomi 24.55 2,024 2,240,000 164,571 8 Airbnb 22.67 561 14,600,000 179,491 9 Snapdeal 17.63 459 11,100,000 149,830 10 BuzzFeed 16.06 692 4,393,333 973,824 9
  10. 10. UNICORN MEDIA INDEX Q1’16: 21-40 Rank Company Index News/Search/Social Volume 21 Zomato Media 2.22 91 1,073,333 20,667 22 Quikr 2.21 51 1,500,000 7,396 23 MongoDB 1.81 131 264,333 34,728 24 FanDuel 1.77 60 700,000 91,716 25 Houzz 1.71 19 1,220,000 42,632 26 DraftKings 1.70 60 574,333 109,319 27 DJI 1.61 134 11,533 42,631 28 Nutanix 1.58 137 79,500 10,711 29 Magic Leap 1.56 131 121,833 9,830 30 JustFab 1.50 4 1,313,333 3,989 Rank Company Index News/Search/Social Volume 31 Blue Apron 1.44 21 1,073,333 8,443 32 Ola Cabs 1.41 48 773,000 14,934 33 Cloudera 1.37 119 60,500 10,148 34 Docker 1.34 81 368,000 18,368 35 Zenefits 1.29 97 163,667 21,501 36 Instacart 1.26 93 216,000 8,592 37 Eventbrite 1.23 32 632,000 51,048 38 CloudFlare 1.22 91 201,000 11,019 39 Didi Chuxing 1.22 112 12,633 4,060 40 Stripe 1.07 71 264,333 8,075 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 10
  11. 11. UNICORN MEDIA INDEX Q1’16: 41-60 Rank Company Index News/Search/Social Volume 41 Warby Parker 1.03 48 450,000 6,313 42 Grabtaxi 0.99 49 422,667 3,763 43 Theranos 0.89 57 177,000 22,553 44 23andMe 0.86 36 395,333 10,887 45 Shopclues.com 0.83 47 194,000 30,799 46 Palantir 0.83 68 90,500 3,905 47 DocuSign 0.82 42 323,333 4,954 48 HelloFresh 0.79 9 607,667 7,430 49 Twilio 0.79 63 97,000 4,072 50 SimpliVity 0.77 70 19,467 2,088 Rank Company Index News/Search/Social Volume 51 Avast Software 0.76 70 7,600 2,202 52 WeWork 0.76 55 105,333 15,511 53 Udacity 0.73 38 264,333 9,180 54 Jet.com 0.73 34 323,333 3,119 55 Domo 0.65 36 231,000 2,462 56 InMobi 0.64 56 36,033 2,503 57 Shazam 0.64 20 3,133 105,806 58 Vox Media 0.63 57 20,833 2,099 59 Klarna 0.60 13 422,667 900 60 AppNexus 0.60 54 22,200 2,017 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 11
  12. 12. UNICORN MEDIA INDEX Q1’16: 61-80 Rank Company Index News/Search/Social Volume 61 Lookout 0.55 5 450,000 1,449 62 Automattic 0.53 45 14,767 7,478 63 Okta 0.51 39 74,000 5,076 64 Pluralsight 0.49 16 264,333 8,198 65 Nextdoor 0.44 13 189,000 22,924 66 AppDynamics 0.41 35 33,100 2,069 67 Zscaler 0.36 30 31,100 1,175 68 Home24 0.36 2 305,000 98 69 ZocDoc 0.35 12 201,000 1,691 70 Qualtrics 0.35 15 158,667 2,763 Rank Company Index News/Search/Social Volume 71 Datto 0.33 28 19,467 2,807 72 Sprinklr 0.30 23 35,567 5,264 73 MuleSoft 0.28 21 38,033 3,673 74 Funding Circle 0.27 18 74,000 847 75 ForeScout 0.27 23 13,900 2,636 76 The Honest Co. 0.26 20 5,867 8,496 77 One97 0.24 22 6,600 197 78 Adyen 0.23 18 33,100 1,758 79 Kabam 0.23 4 165,000 1,411 80 Meituan-Dianping 0.21 19 1,640 1,569 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 12
  13. 13. UNICORN MEDIA INDEX Q1’16: 81-100 Rank Company Index News/Search/Social Volume 81 Powa 0.21 16 16,133 7,169 82 Anaplan 0.21 15 31,933 3,687 83 Tanium 0.21 17 20,833 1,555 84 Thumbtack 0.20 18 263 2,150 85 Delivery Hero 0.20 12 60,500 952 86 Coupa Software 0.20 17 4,400 2,084 87 AppDirect 0.19 17 6,200 1,705 88 Actifo 0.17 15 8,100 852 89 Mu Sigma 0.16 12 26,100 812 90 SoFi 0.15 13 6,600 1,036 Rank Company Index News/Search/Social Volume 91 Kabbage 0.15 9 40,500 1,356 92 Farfetch 0.15 13 160 3,431 93 MarkLogic 0.14 11 10,633 1,595 94 UCar 0.13 2 97,000 707 95 Apttus 0.13 10 14,800 2,988 96 Uptake 0.12 9 203 8,190 97 Fanatics 0.12 10 10,033 2,117 98 Infinidat 0.12 10 5,800 526 99 Oscar Health Insurance 0.11 8 13,000 1,917 100 Medallia 0.10 3 60,500 630 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 13
  14. 14. UNICORN MEDIA INDEX Q1’16: 101-120 Rank Company Index News/Search/Social Volume 101 Avant 0.10 7 25,833 419 102 IronSource 0.09 8 4,733 777 103 Proteus Digital Health 0.09 8 4,733 414 104 Prosper Marketplace 0.09 8 5,400 970 105 Ele.me 0.09 8 1,400 176 106 InsideSales.com 0.09 8 1,200 1,383 107 Coupang 0.09 4 40,500 94 108 Moderna 0.09 3 43,500 2,386 109 Kik Interactive 0.08 5 3,867 5,241 110 Garena Online 0.08 6 2,900 4,470 Rank Company Index News/Search/Social Volume 111 Global Fashion Group 0.08 7 3,600 30 112 Gusto 0.08 6 10,933 1,000 113 Deem.com 0.07 7 227 258 114 Bloom Energy 0.06 4 19,467 348 115 Oxford Nanopore 0.06 4 5,867 2,048 116 Mogujie 0.05 4 2,133 379 117 APUS Group 0.05 4 1,667 780 118 Mozido 0.05 4 5,633 148 119 Mode Media 0.04 4 4,400 301 120 UberChina 0.04 4 107 596 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 14
  15. 15. UNICORN MEDIA INDEX Q1’16: 121-140 Rank Company Index News/Search/Social Volume 121 Lufax 0.04 3 3,400 288 122 Yello Mobile 0.04 3 1,400 593 123 Beibei 0.03 0 3,067 7,736 124 Adaptive Biotech 0.03 2 3,867 116 125 TutorGroup 0.03 2 3,400 461 126 China Rapid Finance 0.03 2 640 44 127 Lazada Group 0.03 2 6,700 93 128 Zhong An 0.02 2 553 238 129 Wifi Master Key 0.02 1 4,733 1,809 130 Intarcia Therapeutics 0.01 1 3,633 42 Rank Company Index News/Search/Social Volume 131 ContextLogic 0.01 1 1,120 67 132 WePiao 0.01 1 0 29 133 Tujia 0.01 1 1,700 108 134 CureVac 0.01 0 3,867 38 135 VANCL 0.01 0 2,233 5 136 Mia.com 0.01 0 1,500 1 137 Auto1 Group 0.00 0 2,233 2 138 Panshi 0.00 0 773 42 139 Jiuxian 0.00 0 260 162 140 Fanli 0.00 0 730 15 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 15
  16. 16. UNICORN MEDIA INDEX Q1’16: 141-145 Rank Company Index News/Search/Social Volume 141 Trendy Group 0.00 0 227 81 142 Lamabang 0.00 0 317 2 143 Koudai Shopping 0.00 0 70 0 144 Lakala.com 0.00 0 20 0 145 Aiwujiwu 0.00 0 0 3 Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 16
  17. 17. WHO EXITED? NO LONGER UNICORNS (Acquired, Merged or Went Public Since 2015 Ranking) Company 2015 Rank 2015 Index Exit Date Exit Description Square 11 14.47 Nov-15 IPO on Nov. 19, 2015 Pure Storage 21 2.04 Oct-15 IPO on Oct. 7, 2015 Legendary Entertainment 41 0.63 Jan-16 Acquired for $3.5 billion by Dalian Wanda Group Co Dianping 52 0.19 Oct-15 Merged with Meituan, now Meituan-Dianping (#80 on Q1’16 Unicorn Media Index) Meituan 54 0.17 Oct-15 Merged with Dianping, now Meituan-Dianping (#80 on Q1’16 Unicorn Media Index) Jasper Technologies 70 0.02 Feb-16 Acquired by Cisco for $1.4 billion StemcentRX 72 0.01 Apr-16 Acquired by AbbVie for $5.8 billion Source: Big Valley analysis of monthly News, Social and Search volumes, indexed to 100 based on highest Jan’15 channel scores, then aggregated into a composite Earned Media Index. Data from IT Database, Sysomos and Google AdWords. 17
  18. 18. Unicorn Media Index™: Q1’16 Methodology Notes June 2016
  19. 19. EARNED MEDIA INDEX™ Key Questions •  How do brands (or other entities) perform across earned media relative to peers and competitors? •  How does performance correlate across news, social and search channels? •  What can brands learn from other brands to improve their earned media performance? Goals •  Benchmark earned media performance for my brand, product or idea, over time and against other entities •  Understand which channel types best drive earned media impact for my brand and category •  Plan future communication strategies, campaigns and channel mix to optimize performance Approach •  Analyze earned media visibility and trajectory across channels, including relevant data for news, social and search. Capture channel data monthly and aggregate it into a composite index for easy comparison over time and against others. -  News: Keyword search for number of news citations for the entity in IT Database, a well-curated online database of technology, business and vertical news outlets. -  Social: Keyword search for number of social citations for the entity name or handle using Sysomos, a broad social media aggregator that captures social content (Twitter, Facebook, LinkedIn, blogs, forums, videos and images). -  Search: Average monthly searches for the entity name via search engines as tracked via Google AdWords, reflecting organic brand search behavior by month. 19
  20. 20. METHODOLOGY NOTES •  This study applies Big Valley’s Earned Media Index methodology to analyze media performance, visibility patterns and channel dynamics for a distinct class of private companies with $1B+ valuations. •  We used three primary sources to build our list of 145 unicorns: Dow Jones VentureSource; CB Insights; and CrunchBase. Our list includes all companies that appeared on all three lists as of April 2016. Exited unicorns were not included in this analysis. •  We then used specialized media analysis tools to capture monthly News, Social and Search volumes for each company during Q1’16. In addition, we captured monthly channel data for calendar year 2015 for the 75 top unicorns based on our previous study. •  Each brand’s channel score is indexed to 100, based on the leader for that channel as of January 2015. Channel scores are then aggregated into a composite Earned Media Index score to easily compare visibility and momentum over time. •  Financial valuations and industry classifications were leveraged from Dow Jones VentureSource. Valuation levels and rankings are based on Apr’16 data. •  Big Valley analysts conducted this study during April, May and June 2016. 20
  21. 21. THANK YOU Tim Marklein – tim@bigvalley.co Inga Starrett – inga@bigvalley.co Christine Kerst – christine@bigvalley.co www.bigvalley.co

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