what is a unicorn company? - top 5 unicorn-startups everyone should know about-getinstartup

What is a Unicorn Company? – Top 5 Unicorn Startups Everyone Should Know About

Have you ever came across the word “Unicorn Startup” or “Unicorn Company“? Or ever wondered why some of the startups are declared as the “Unicorn Startups”? If yes, then your wandering days are over as this article is just for you. Well, This article “What is a Unicorn Company? – Top 5 Unicorn Startups Everyone Should Know About” answered all of your queries about Unicorn Startups. So, Without further, ado let’s get started.

What is a Unicorn Company?

In the venture capital industry, the term “Unicorn” is used to describe a startup company that reaches a valuation of $1 billion.

This term was first coined in 2013 by Aileen Lee, a venture capitalist. The term initially raised to represent the rarity of such startups. Since 2013, the description of Unicorn Startup hasn’t changed but the number of unicorn startups has gone high.

As of March 2021, there are more than 500 unicorns around the world. 

Characteristics of Unicorn Companies

Declaring a startup as a “Unicorn” is not everyone’s cup of tea. Startups who are listed as “Unicorn” has their own success story. On average, 4 startups are declared as “Unicorn” every year. But the question arises that What makes Unicorns different from other startups? The answer to this question has been listed below in the form of points.

1. Disruptive Innovation: Nearly all of the startups have disrupted the industry they belong to. For example, Paytm changed the mode of payment, and now it’s so easy to pay now, Uber changed the way people used to book cabs, Airbnb changed the way people planned their stay while traveling, etc.

2. First Move: First Move and Disruption go hand in hand. Unicorns are always the starters in their industry, and they are also kept on innovating something new. And always been one step ahead of all other startups.

3. An Exponential Shift to the Digital World: According to recent reports, we concluded that 87% of the unicorn products are software, 7% are hardware, and the rest 6% are other products and services. This article “What is a Unicorn Company? – Top 5 Unicorn Startups Everyone Should Know About”. This is the most common shift among Unicorns to make everything digitally available to us. For example, By Paytm, we can do transactions online, By Uber, we can book cabs online, etc.

4. Consumer-Focused: 62% of the unicorns are B2C companies. Their main goal is to make things easy for consumers and to simply the things too. Another goal is to make things affordable to people. Spotify, for example, made it easier for us to listen to music, Instacart lets you order groceries with a tap of an app, etc.

5. Private Companies: Most of the unicorns are privately held companies that get their valuation when a bigger company acquires it or invests in it.

What is a Decacorn and Hectocorn Company?

“Decacorn” or “Super Unicorn” is a term used to describe companies that have reached their valuation of over $10 billion. Some famous Decacorns are Uber, Dropbox, Snap, SpaceX, Databricks, WeWork, etc.

“Hectocorn” is a term used to describe the unicorns that have reached their valuation of over $100 billion. Some famous Hectocorns are SpaceX, Airbnb, Stripe, ByteDance, etc.

Top 5 Unicorn Startups in India

1. Unacademy

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Unacademy is an Indian online education technology company based in Bangalore. It was founded by Gaurav Munjal, Roman Saini, and Hemesh Singh in 2015. It was originally started as a YouTube channel by Gaurav Munjal. As of December 2020, Unacademy was valued at 2.0 billion US dollars.

2. Paytm

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Paytm is an e-commerce payment system and financial technology company based in Noida, UP, India. Paytm was founded by Vijay Shankar in 2010, And it is owned by One97. Paytm is currently available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, etc. Paytm current valuation is around $16 billion.

3. Flipkart

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Flipkart is an e-commerce company headquartered in Bangalore, Karnataka, India. It was founded by Sachin Bansal and Binny Bansal in 2007. Flipkart held a 39.5% market share of India’s e-commerce industry. In July, Walmart led a $1.2 billion round of investments in Flipkart, raising the company’s valuation to $24.9 billion.

4. Razorpay

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Razorpay is the only converged payments solution company in India that allows businesses to accept, process, and disburse payments via its product suite. With Razorpay, you have access to all payment modes. The new round valued the startup at “a little more than $1 billion,” co-founder and chief executive Harshil Mathur told TechCrunch in an interview.

5. Zomato

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Zomato is an Indian restaurant aggregator and food delivery startup founded by Deepinder Goyal and Pankaj Chaddah in 2008. With Zomato, food orders can be placed by few taps on the phone. As of 2019, the service is available in 24 countries and in more than 10,000 cities. Zomato’s current valuation is around $5.4 billion. The article “What is a Unicorn Company? – Top 5 Unicorn Startups Everyone Should Know About”consists only of 5 unicorn startups.

Conclusion

The term “unicorn” has been in the startup world for a long time. Today, unicorn companies have attained fame and made a place for themselves in the market. If a startup is on-road to become a unicorn startup, then obstacles would be there. So, keep on hustling to touch a milestone.

I guess I covered all the queries. Hope you love my article on “What is a Unicorn Company? – Top 5 Unicorn Startups Everyone Should Know About”. And if my article was really informative, then let me know in the comment section.

4 Thoughts to “What is a Unicorn Company? – Top 5 Unicorn Startups Everyone Should Know About”

  1. Really informative! Keep up the great work! 👏🏽

  2. Harpreet Kaur

    Woww🔥

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