unicorn media index q1'16: who ranks where across news, social and search?

Unicorn Media Index™: Who Ranks Where Across News, Social and Search?

Q1’16 Edition

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…

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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

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


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)


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


UNICORNS ARE NOT CREATED EQUAL

MEDIA STARS (Earned Media Index > 1.00)


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)


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


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

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UNICORN MEDIA INDEX Q1’16: TOP 10

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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

Earn

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1. Snapchat 2. Pinterest 3. Uber 4. Spotify 5. Dropbox 6. Flipkart 7. Xiaomi 8. Airbnb 9. Snapdeal 10. BuzzFeed


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.


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

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UNICORN MEDIA INDEX Q1’16: 21-40


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


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




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


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




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


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




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


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




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


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




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


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




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


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


Unicorn Media Index™: Q1’16 Methodology Notes

June 2016

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.

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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.

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THANK YOU

Tim Marklein – [email protected] Inga Starrett – [email protected]

Christine Kerst – [email protected] www.bigvalley.co

unicorn media index q1'16: who ranks where across news, social and search?

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