Hurun Global Unicorn Index –
In a massive achievement for the Modi government in the post pandemic era, Hurun global unicorn index India has displaced the United Kingdom (UK) in the list of countries that are home to ‘unicorns’, said a report by Hurun Research Institute on Wednesday.
Global Unicorn Index 2021 –
- Report released by the Hurun Research Institute
- India ranked at third (by adding 33 ‘unicorns’) in 2020 by displacing the United Kingdom (UK) to the 4th spot.
- The United States and China still continue to bag the top two ranks in the list
- US, China comprise 74% of unicorns.
- Unicorns are privately held start-up companies having a valuation of more than $1 billion.
- According to Hurun India, India’s list of unicorns is led by ad-tech platform BYJU’s which is valued at $21 billion(It is ranked 15th globally), followed by mobile ad-tech platform InMobi valued at $12 billion and hospitality major OYO Rooms with a valuation of $9.5 billion.
- Bengaluru is home to the highest number of unicorns among Indian cities, it said, adding that the financial capital, nearby cities of Pune and Thane, and Gurugram also have candidates.
- The report said there are 122 unicorns in e-commerce globally, of which 15 are in India. In the e-commerce sector, India is the third-largest, only behind the US and China.
- December 2021 is a witness to 936 unicorns all over the world.
- But Russia, Saudi Arabia and Poland are amid 160 countries without a single known unicorn. Thirteen have produced unicorns for the first time, including Mexico, the Netherlands, Bahamas, Belgium, Chile, Czech Republic, Denmark, Norway, Senegal, Thailand, Turkey, UAE, Vietnam.
What is a Unicorn Company?
- A unicorn company known as a unicorn startup is a private company that has a valuation of $1 billion. There are more than 900 such companies across the world.
- The most popular of them have been Airbnb, Facebook and Google. It has variants as well, called decacorn and hectocorn.
- Decacorn are the companies that are valued at more than $10 billion. Hectacorn is valued at over $100 billion.
What is a Start up?
The term startup refers to a company in the first stages of operations. Start-ups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand.
These companies generally start with high costs and limited revenue, which is why they look for capital from a variety of sources such as
Minicorn: Minicorns are startups with a valuation of $1 million and over. They are companies that are pretty new in the game, but still have some valuation which further proves that the company has the potential of becoming a unicorn in the upcoming future.
Soonicorn: The Soonicorns – soon to be Unicorns – are the handful of highly valued startups which have successfully grown out of their nascency to attract valuations of over a few hundred millions. Watch out for these companies in the coming years as they take on the journey to becoming the elite Unicorns.
Unicorn: It is expected that by 2023 India will be home to 100 unicorn biz. e-commerce, fintech, and enterprise tech are among the popular members of the unicorn club in India.
“Unicorn” is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion.
Decacorn: A decacorn is a startup company that has a current valuation of over $10 billion.
Hectacorn: A tech company valued over 100 billion dollars is called Hectacorn.
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