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Understanding the concept of The Unicorn Startups

A startup company that has a value worth $1 billion they are known as a Unicorn company or Unicorn startup.


Companies like Snapchat, Airbnb, and Pinterest are considered unicorn startups.


The term “Unicorn” was given by the founder of Cowboy Ventures, Aileen Lee. She referred 39 startups to the list of Unicorn Startups, as they had a value of $1 billion.


In the past some years, the number of Unicorn startups has increased.


Before proceeding further, we should know what startups are.


What are Startups?


The startup is the first step of an organization of their product launch.


Founded by more than one entrepreneur, they believe that the demand for a product can be achieved by providing its services and deliveries.


Key facts of Startups:


They are the initial setup of the business.


Funding starts from family, friends, and loans.


Startups should confirm where they should do their business, for example, location- small or big area, delivery options for distant locations, and so on.


The risk of failure is very high. Hence startups should come up with innovative ideas and opportunities to maintain their business.


With the innovative idea, Uber changed the way of commuting. People can now book a cab through the Uber app on their phone to the location they want. Payment is also accessible online. RELAX AND GET GOING.....!!!


Startups usually make the demand and necessity within the specific area.


Startups have changed the lifestyle of people around the world.


They develop innovative ideas and strategies to maintain their business in the market.


There are around 361 unicorn startups worldwide, of which 16 are from India.


Only startups can be termed unicorns. If the value exceeds $10 billion, the startups are considered “super unicorns,” also termed “Decacorn,” like DropBox, We-work, and so on.


Some of the Unicorn Startups in India:


Meesho


Founded in 2015 by Sanjeev and Aatrey Barnwal, this startup provides reselling opportunities for small businesses allowing people to start their venture via social media like Facebook, Instagram, and WhatsApp. It is a Bangalore-based company with 100k registered suppliers, 4000 cities, and 26 postal codes, generating more than INR 500 Cr.


Paytm


It was founded in 2010 by Vijay Shekhar, which One97 Communications own. This app is used for bill payments, ticketing- bus, flight and train, shopping, groceries, and many other service providers.


Flipkart


It is the biggest e-commerce website for top brands in online shopping. It was founded in 2007 by Sachin Bansal and Binny Bansal.


CRED


Founded in 2018, this app is members- only club which rewards its members for timely payment of their credit card bills. Those members are allowed to manage their multiple credit cards and also show an analysis of their credit score.


Above are some of the Indian companies which come under Unicorn startups. Many others, like Razorpay, Urban Company, and Zeta Bharat Pe.


In 2022, many more companies have been added to the list of Unicorn Startups-


Fractal, LEA, Darwinbox, DealShare, Polygon, Livspace, ElasticRun, Xpressbees, Uniphore, Hasura, CredAvenue, Amagi, Oxyzo, Games 24×7, Open, Physics Wallah, Purplle, and LeadSquared.


In 2022, India created 18 unicorn startups.


InMobi is considered to be India’s first Unicorn startup.


Presently, Unicorn companies have made their place in the market. But not all companies in the list need to be stable in their business. With so many competitors around in the market, everyone has to come up with innovative ideas, business strategies, and better opportunities to maintain their business.


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