15 Startups With $100 Million+ Valuations That Hardly Existed Last Year

As reported by Alyson Shontell in Business Insider, many of the world's most valuable startups haven't been around for very long. Some companies with $100 million+ valuations were founded just this year in 2011. Others have been around, but didn't receive any traction until a few months ago. Take a look at what investors perceive to be the most valuable new companies in the world.

15. Betterworks - A business platform where businesses can create, more rewarding work environments for their employees. Founded in 2011 and based in Santa Monica, CA it's estimated value is $100 million. The CEO is Paige Craig / Investors: Redpoint Ventures. The analysis? Betterworks is a social platform for employees that rewards them and encourages collaboration. In August 2011, Betterworks raised $8 million with an implied valuation of $100 million.

14. Instagram - Photo sharing for iPhone. Launched in November 2010 and based in San Francisco, CA, it's estimated value is $100 million. The CEO is Kevin Systrom / Investors: Andreessen-Horowitz, Baseline Ventures, and Benchmark Capital. The analysis? Instagram is a photo sharing application that is receiving an immense amount of traffic. It is growing shockingly fast. In less than a year, it has amassed 9 million users. There's no revenue model yet, but investors tend to get very excited about companies that grow their user-bases this fast. We therefore estimate that the company is worth $100 million.

13. Warby Parker - A prescription glasses online discount retailer. Founded in late 2010, launched early 2011 and based in New York, New York, it's estimated value is $120 million. The Co-CEOs are Neil Blumenthal and Dave Gilboa / Investors: First Round Capital, SV Angel, Lerer Ventures, Davis Smith. The analysis? While margins for online retailers aren't huge, glasses are something that are purchased almost annually; Warby's product inherently encourages repeat customers. One of the sources estimates that Warby Parker has already sold more than 100,000 pairs of glasses in the last year. Two sources involved in the financing and one additional industry source say that the $12 million round Warby Parker just raised was at an estimated valuation of $100-200 million.

12. Beachmint - Social commerce company where celebrities launch lines and products. Founded in late 2010 and based in Santa Monica, CA, it's estimated value is $150 million. The CEO is Josh Berman / Investors: New Enterprise Associates, Trinity Ventures, Lightbank, Scale Venture Partners, Stanford University, Anthem Venture Partners. The analysis? The startup raised $23.5 million in June at a reported $150 million valuation, Film at 11.

11. Flipboard - Personalized social magazine for iPad. Founded in 2010 and based in Palo Alto, CA, it's estimated value is $200 million. The CEO is Mike McCue / Investors: Venture Partners, Comcast Capital, Kleiner Perkins Caufield & Byers, Index Ventures, the Chernin Group, angel investor Ron Conway, Square CEO Jack Dorsey, actor Ashton Kutcher, and Facebook co-founder and Asana founder, Dustin Moskovitz. The analysis? Flipboard is an easy news reading experience for the iPad. In April, Flipboard raised $50 million at an estimated $200 million valuation.

10. Shoedazzle - Personal styling and fashion services including the sales of shoes, handbags, jewelry, and more for a monthly fee. Founded in March 2009 and based in Los Angeles, CA, it's estimated value is $280 million. The CEO is Brian Lee / Investors: Andreessen Horowitz, Lightspeed Venture Partners, Polaris Ventures, Accel Partners, Comcast Ventures, Allen & Company, and Khosla Ventures. The analysis? Shoedazzle offers its members personalized fashion, including shoes, jewelry, handbags, and other accessories. Users are charged to receive the monthly accessories at their doorsteps. The company is expected to generate $70 million in 2011 revenue, up from $23 million in 2010. Shoedazzle raised $40 million in May of 2011, with a valuation north of $200 million. Applying a 4x on 2011 revenue, Shoedazzle's valuation is at $280 million.

9. Vostu - Online gaming site and virtual goods. Founded in 2007 and based in San Paulo, Brazil, it's estimated value is $300 million. The CEO is Daniel Kaife / Investors: Tiger Management, Accel Partners, Intel Capital and General Catalyst Partners. The analysis? Vostu is an online gaming company that is big in Brazil. It has 42 million users. Vostu raised $30 million at the end of last year at what we estimate was a $300 million post-money valuation. While the company has grown significantly since then, a lawsuit with Zynga is a potential risk for Vostu. We estimate that Vostu will do about $50 million of revenue this year. We use a 6x multiple, keeping the valuation at $300 million.

8. One Kings Lane - Flash sale site. Founded in 2009 and based in San Francisco, CA, it's estimated valuation is $440 million. The CEO is Doug Mack / Investors: Tiger Global Management, Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Greylock Partners, Accel Partners, Comcast Ventures, Allen & Company, and Khosla Ventures. The analysis? The Wall Street Journal says One Kings Lane will likely generate $100 million in revenue this year, up from $30 million last year. In September 2011, the company raised $40 million at a $440 million valuation.

7. ZocDoc - Online booking for doctor and dentist appointments. Founded in 2007 and based in New York, New York, it's estimated value is $700 million. The CEO is Cyrus Massoumi / Investors: Jeff Bezos, DST Global, The Founders Fund, Khosla Ventures, Mark Benioff, and SV Angel. The analysis? ZocDoc is an easy way to book last-minute doctor appointments online. It is used by more than 700,000 people per month. ZocDoc is free for patients and charges every featured practice $250 per month. In the summer of 2011, DST Global invested $50 million and Goldman Sachs invested $25 Million in ZocDoc at about a $700 million valuation.

6. Storm8 - The creator of Role Playing Games on the iPhone, iPod Touch and Android device. Founded in March, 2009 and based in Redwood Shores, CA, it's estimated value is $1 billion. The CEO is Perry Tam / Investors: Accel Partners and Technology Crossover Ventures. The analysis? Storm8 creates role playing games for mobile devices. It is rumored to be raising a $300 million round at around a $1 billion valuation from the likes of Accel Partners and Technology Crossover Ventures. Zynga was interested in acquiring Storm8 but took its name out of the running because the price was too rich.

5. Spotify - A digital music service that provides access to millions of songs. Founded in 2006 and based in Stockholm, Sweden, it's estimated value is $1.1 billion. The CEO is Daniel Ek / Investors: Kleiner Perkins Caufield and Byers and Digital Sky Technologies Global. The analysis? Spotify is enormously popular in Europe and recently launched in the US, where it has already amassed 2 million subscribers. The $50 million Spotify raised in February, 2011 was reportedly at a $1.1 billion valuation.

4. Rovio - Game development and merchandise, well known for the popular game, Angry Birds. Founded in 2003 (Angry Birds launched December 2009) and based in Finland, it's estimated value is $1.2 billion. The CEO is Peter Vesterbacka / Investors: Accel Partners and Atomico Ventures. The analysis? In March 2011, the Angry Birds maker raised $42 million from Accel Partners and Atomico Ventures at an estimated valuation of $200 million.In 2011, we estimate the company is on track to generate $80 million of revenue, and it's supposedly raising an even bigger round at a $1.2 billion valuation.

3. Airbnb - Offers a global network of accommodations offered by locals. Founded in August 2008 and based in San Francisco, CA, it's estimated value is $1.3 billion. The CEO is Brian Chesky / Investors: Andreessen Horowitz, DST Global, and General Catalyst. The analysis? Airbnb is a short-term apartment rental service. The company raised $112 million in July 2011, but Airbnb is not without its issues. Users have publicly complained about their apartments being destroyed by other Airbnb users. Reports suggest that Airbnb will do north of $500 million of gross merchandise sales in 2011, and book net revenue of about 5% of that. We put the company's value at $1.3 billion, which is about 2X gross merchandise sales and the reported valuation of the most recent financing.

2. Square - Accept credit card payments anywhere with your iPhone, iPad or Android phone. Founded in 2009 and based in San Francisco, CA, it's estimated value is $1.6 billion. The CEO is Jack Dorsey / Investors: In 2009, Khosla Ventures invested $10 million in Square. In January 2011, Square raised $27.5 million from Sequoia Capital, Khosla Ventures, and Jeremy Stoppelman. In June 2011, Square raised a massive $100 million round led by Kleiner Perkins Caufield & Byers and Tiger Global Management. The analysis? Earlier in 2011, Square raised capital at a $240 million valuation. In June 2011, it raised an additional $100 million; two inside sources say the round valued Square at $1.6 billion. Square is getting used by more and more small businesses, but it is still largely unprofitable. The New York Times reports, "Square is on track to notch gross revenue of about $40 million. But its adjusted operating income is expected to be in the red, at negative $20 million. The hope is for Square to reach profitability in 2012 with gross revenue of at least $200 million."

1. Dropbox - A free service that lets you bring your photos, docs, and videos anywhere and share them easily. Founded in 2007 and based in San Francisco, CA, it's estimated value is $4 billion. The CEO is Drew Houston / Investors: Dropbox is rumored to have closed a massive round at a $4 billion valuation led by Index Ventures last month. It received seed money from Y Combinator and, in fall 2008, Sequoia Capital led a $7.2M Series A with Accel Partners. The analysis? Before the round was reported in August 2011, rumors were flying that Dropbox could be worth as much as $8 billion. Due to tanking markets or an interest in specific investors, Dropbox settled for a lower valuation. The $4 billion valuation could be justified. Dropbox makes it easy to store and backup documents in the cloud, sync them between devices and retrieve them later. It solves a problem everyone has, so it has a very big potential market. Dropbox's costs are always going to go down, because cloud computing costs are always getting cheaper. On the revenue side, Dropbox's revenues are always going to go up. It's a freemium business model, and freemiums works best when the value of the services go up over time. Most people won't pay to back up a few files on Dropbox. They'll pay to store them all.

- As seen in Business Insider and brought to you by NetLingo: Improve Your Internet IQ



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