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5 Major Tech Startups Blossoming Outside Silicon Valley
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For many Americans, the tech world starts and ends in Silicon Valley. Yet in reality, many technology firms operate outside of the San Francisco Bay Area. This group of tech companies thriving away from the bubble of the Valley includes some of the most prominent and well-known startups and publicly traded firms.
Silicon Valley has been synonymous with technology companies for decades, and the southern portion of the San Francisco Bay region is home to some of the biggest companies in the world, including Apple (AAPL - Free Report) , Intel (INTC - Free Report) , Facebook , Alphabet GOOGL, Netflix (NFLX - Free Report) , and many more.
But the area, which owes its name to the large number of silicon chip manufacturers that call it home, is certainly not the only place that has proved to provide fertile soil for some of the biggest tech companies in North America.
At a time when so-called “unicorn” tech startups are all the rage, we are going to look at some of the most valuable and coolest startups in the wide-ranging tech space that are poised to succeed far away from Silicon Valley.
SpaceX
One of Tesla (TSLA - Free Report) CEO Elon Musk’s other companies, SpaceX, is a rocket and space exploration firm founded in 2002 that is currently valued at $21.2 billion. SpaceX has contracts with NASA, is the only private company to return a spacecraft from low-Earth orbit, and recently completed the first-ever “reflight” of an orbital class rocket—which could help create massive cost savings as private space exploration expands.
Musk’s firm employs over 5,000 people spread out between its Hawthorne, California headquarters outside of Los Angeles and its launch facilities at Cape Canaveral Air Force Station and Vandenberg Air Force Base, as well as its rocket-development space in McGregor, Texas.
WeWork
WeWork is tech startup founded in 2010 in New York City that helps provide private and shared workspaces and services for entrepreneurs, startups, small businesses. The firm currently boasts enterprise clients such as SalesForce (CRM - Free Report) and Sprint (S - Free Report) .
The “Airbnb of office space” is reportedly worth $20 billion and has effectively fused the real estate, hospitality, and technology businesses into one massively successful startup, which has flourished on the East Coast. The NYC-based company also has offices throughout the world.
Infor
Infor, which builds cloud-based business software and platforms for firms of all shapes and sizes, also calls New York City home. Infor has 16,000 employees and boasts over 90,000 customers, which includes Kellogg’s, Nissan, Ricoh, and other big-name firms.
The company has offices around the globe and is currently valued at $10 billion. But this NYC-headquartered company has true New York roots, and its logo will appear on the front of the Brooklyn Nets’ jerseys during the upcoming NBA season.
Outcome Health
Two Northwestern University students founded Chicago-based Outcome Health in 2006. Today, Outcome Health helps both patients and doctors by providing touch screen monitors to hospitals and healthcare offices around the country. The firm is one of the newer unicorn companies, having earned the honor in late May, and its $5 billion valuation already places it within the top 30 on the list of roughly 200 non-public companies valued at $1 billion or more.
The healthcare technology company has received funding from Goldman Sachs (GS - Free Report) , Pritzker Group Venture Capital, and Alphabet’s equity investment fund CapitalG.
Fanatics
Founded in Jacksonville, Florida, this sports-based commerce giant is now valued at $4.5 billion. Fanatics helps power fans’ gear and memorabilia buying experience on digital platforms with online and mobile sites, as well as in-store and in-stadium purchases.
The company operates more than 300 online and offline partner stores, which include the e-commerce platforms for the NFL, MLB, NBA, NHL, NASCAR, MLS, PGA, 200 collegiate teams, as well as global soccer powerhouses Manchester United (MANU - Free Report) , Real Madrid, and Manchester City.
SoftBank (SFTBY - Free Report) and Andreessen Horowitz are both investors, and the company currently has three different headquarters: Jacksonville, Manchester, England, and the San Francisco Bay Area.
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5 Major Tech Startups Blossoming Outside Silicon Valley
For many Americans, the tech world starts and ends in Silicon Valley. Yet in reality, many technology firms operate outside of the San Francisco Bay Area. This group of tech companies thriving away from the bubble of the Valley includes some of the most prominent and well-known startups and publicly traded firms.
Silicon Valley has been synonymous with technology companies for decades, and the southern portion of the San Francisco Bay region is home to some of the biggest companies in the world, including Apple (AAPL - Free Report) , Intel (INTC - Free Report) , Facebook , Alphabet GOOGL, Netflix (NFLX - Free Report) , and many more.
But the area, which owes its name to the large number of silicon chip manufacturers that call it home, is certainly not the only place that has proved to provide fertile soil for some of the biggest tech companies in North America.
Microsoft (MSFT - Free Report) , Amazon (AMZN - Free Report) , and several other multibillion-dollar tech giants call the state of Washington home, while new firms in Austin, Texas and Denver, Colorado pop-up seemingly every day (also read: 5 American Tech Companies Thriving Outside of Silicon Valley).
At a time when so-called “unicorn” tech startups are all the rage, we are going to look at some of the most valuable and coolest startups in the wide-ranging tech space that are poised to succeed far away from Silicon Valley.
SpaceX
One of Tesla (TSLA - Free Report) CEO Elon Musk’s other companies, SpaceX, is a rocket and space exploration firm founded in 2002 that is currently valued at $21.2 billion. SpaceX has contracts with NASA, is the only private company to return a spacecraft from low-Earth orbit, and recently completed the first-ever “reflight” of an orbital class rocket—which could help create massive cost savings as private space exploration expands.
Musk’s firm employs over 5,000 people spread out between its Hawthorne, California headquarters outside of Los Angeles and its launch facilities at Cape Canaveral Air Force Station and Vandenberg Air Force Base, as well as its rocket-development space in McGregor, Texas.
WeWork
WeWork is tech startup founded in 2010 in New York City that helps provide private and shared workspaces and services for entrepreneurs, startups, small businesses. The firm currently boasts enterprise clients such as SalesForce (CRM - Free Report) and Sprint (S - Free Report) .
The “Airbnb of office space” is reportedly worth $20 billion and has effectively fused the real estate, hospitality, and technology businesses into one massively successful startup, which has flourished on the East Coast. The NYC-based company also has offices throughout the world.
Infor
Infor, which builds cloud-based business software and platforms for firms of all shapes and sizes, also calls New York City home. Infor has 16,000 employees and boasts over 90,000 customers, which includes Kellogg’s, Nissan, Ricoh, and other big-name firms.
The company has offices around the globe and is currently valued at $10 billion. But this NYC-headquartered company has true New York roots, and its logo will appear on the front of the Brooklyn Nets’ jerseys during the upcoming NBA season.
Outcome Health
Two Northwestern University students founded Chicago-based Outcome Health in 2006. Today, Outcome Health helps both patients and doctors by providing touch screen monitors to hospitals and healthcare offices around the country. The firm is one of the newer unicorn companies, having earned the honor in late May, and its $5 billion valuation already places it within the top 30 on the list of roughly 200 non-public companies valued at $1 billion or more.
The healthcare technology company has received funding from Goldman Sachs (GS - Free Report) , Pritzker Group Venture Capital, and Alphabet’s equity investment fund CapitalG.
Fanatics
Founded in Jacksonville, Florida, this sports-based commerce giant is now valued at $4.5 billion. Fanatics helps power fans’ gear and memorabilia buying experience on digital platforms with online and mobile sites, as well as in-store and in-stadium purchases.
The company operates more than 300 online and offline partner stores, which include the e-commerce platforms for the NFL, MLB, NBA, NHL, NASCAR, MLS, PGA, 200 collegiate teams, as well as global soccer powerhouses Manchester United (MANU - Free Report) , Real Madrid, and Manchester City.
SoftBank (SFTBY - Free Report) and Andreessen Horowitz are both investors, and the company currently has three different headquarters: Jacksonville, Manchester, England, and the San Francisco Bay Area.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>