Entering the Hectocorn Era: The Rise of Startups Valued at $100 Billion or More

In the fast-paced world of technology and innovation, the term "unicorn" has become synonymous with startups valued at over $1 billion. However, the landscape has evolved dramatically, giving birth to a new breed of high-value companies: the "hectocorn," a term reserved for those rare startups soaring past the $100 billion mark. As of 2025, several tech giants have stepped into this exclusive club, reshaping the expectations and benchmarks of startup valuations.

What is a Hectocorn?

A hectocorn is essentially a startup or privately held company valued at $100 billion or more. This ambitious valuation signifies both remarkable growth and immense investor confidence. As we transition into this new era, the implications for businesses, investors, and the market are profound, pushing the boundaries of what it means to be a successful tech venture.

The Changing Landscape of Startup Valuations

Historically, tech startups pursued the coveted unicorn status—a milestone that once represented a promise of success and viability. However, in today’s market, the term ‘unicorn’ appears ineffectively diminished as more companies rapidly exceed these figures. The rise of the hectocorn reflects an increasingly aggressive investment environment and the emergence of groundbreaking technologies that propel startups into new valuation territories.

Leading The Charge: Hectocorn Startups

As of late 2025, here are some notable hectocorns that have established their foothold firmly within this new valuation echelon:

1. OpenAI

Founded in 2015, OpenAI has become a leading voice in the artificial intelligence space. Known for its groundbreaking advancements—like the popular AI chatbot, ChatGPT—OpenAI reached a staggering $500 billion valuation after a successful share sale. As of October 2025, reports indicate that they are seeking additional funding at a rumored $750 billion valuation, positioning them at the forefront of innovation in AI.

2. SpaceX

Founded by Elon Musk in 2002, SpaceX disrupted the aerospace industry with its ambitious goal of making humanity a multi-planetary species. Renowned for its innovative reusable rocket technology, SpaceX had a valuation of $400 billion before OpenAI passed it. Current projections suggest that a subsequent share sale could propel SpaceX’s valuation to $800 billion.

3. Anthropic

A standout newcomer in AI, Anthropic was co-founded in 2021 by a team of former OpenAI employees. Known for its AI models, including Claude, Anthropic has captured significant attention and funding from giants like Google and Amazon. Its valuation climbed to $183 billion in 2025 and is speculated to rise further with new investment talks, potentially surpassing $350 billion.

4. ByteDance

Famous for its flagship product, TikTok, ByteDance has leveraged the popularity of short-form video content to establish a significant presence on the global stage. After reaching $330 billion in August 2025, ByteDance’s success story underlines the lucrative potential of social media and digital entertainment.

5. Databricks

As an AI and software startup, Databricks has made waves with its Data Intelligence Platform, which employs generative AI to optimize enterprise infrastructure. By mid-2025, Databricks announced a funding round that boosted its valuation to $134 billion, showcasing the increasing importance of data-driven technologies in a digital-first world.

6. Stripe

Online payment processor Stripe has led the charge in the fintech industry since its inception in 2010. By September 2025, Stripe secured a valuation surpassing $100 billion, signifying its vital role in the modern digital economy, especially amidst a surge of e-commerce transactions.

7. xAI

Founded by Elon Musk in 2023, xAI is an innovative venture that focuses on creating advanced AI tools, including the chatbot Grok. Initial valuations placed the startup at $50 billion, later rising to around $80 billion with substantial acquisitions adding to its credibility and value.

Future Prospects

The rise of hectocorns signifies a paradigm shift in how we perceive startup growth and success. Companies achieving this status not only receive tremendous market validation but also exert considerable influence over their respective industries. As technology continues to evolve, we can expect more startups to pursue the hectocorn label—pushing boundaries, driving innovation, and redefining what’s possible in both business and investment worlds.