Issue link: http://endeavor.uberflip.com/i/1450008
4 2021 was the Year of the Unicorn. Across the media landscape, stories of startups achieving the signature milestone of a one billion dollar valuation were trumpeted everywhere. Many of these companies began in places that venture firms and traditional media had only recently "discovered," from Latin America to Africa, Southeast Asia to the Middle East. At Endeavor, we smiled. We, too, had a banner year for unicorns. Endeavor now has more than 50 companies in our network that qualify for this rare-breed status, a tenfold increase in just the last few years. This achievement is testament to the brilliant entrepreneurs we work with, the rigor of our selection process, and the breadth and depth of the local markets where Endeavor Entrepreneurs are building companies, hiring teams, and contributing to sustainable economic growth. We couldn't be prouder. But we also know that all this attention on unicorns obscures the groundwork laid by many for decades in these regions and the insights gained from Endeavor's proprietary research into the impact that entrepreneurs of all sizes have on building ecosystems of innovation and legacies of inspiration. Endeavor's theory of change has always been that high-growth entrepreneurs who commit to paying their success forward will be the ones who achieve what we call the Endeavor Multiplier Effect. Valuation has never been our goal; impact has been our goal. And that impact depends on catalyzing networks of trust, mentorship, and celebration; then extending those networks to new regions, novel industries, and next generations. A unicorn that doesn't breed even more unicorns is just an endangered species. And at Endeavor, we have proof. Today's unicorns are the Big Bubbles we've spoken about for decades: The ones who create the greatest impact by training, advising, and investing in the next generation. Many of the strongest companies coming through our selection process today are second-generation Endeavor entrepreneurs, emerging from other successful companies we've supported, including Careem in the Middle East, Cabify in Europe, Rappi in Latin America. And I'm pleased to say that support now goes two ways: The success of our entrepreneurs helps secure the future of Endeavor. Today, our shared dream of becoming the world's first self-sustaining organization devoted to LETTER FROM LINDA