The $1 Billion Club Gets Crowded

Bangalore: The $1 billion club comprised of few people but now the membership list is gradually increasing. As more and more companies are coming up and achieving success so the list had to be broadened. Almost 20 new companies are listed in the $1 billion alliance.

Pinterest the online scrapbooking start up was able to raise $100 million at $1.5 billion even without any profits and little revenue. During 1990s the club consisted of 18 start ups recorded by Dow Jones from VentureSource. Another company Evernote Corporation which produced the note taking app also hit the milestone recently. Phil Libin, CEO of Evernote said, “We weren't chasing valuation but we had offers for significantly above $1 billion.”

Facebook has been excluded from the list of $1 billion club because it’s going to be a publicly traded company. This club now includes high flying Web players such as Dropbox, a file sharing company, Airbnb, a room rental provider, Rearden Commerce that’s an e-commerce platform and Workday which is a business software maker.