JUNE 20228THE HARVEST OF INDIAN ECONOMY: UNICORN COMPANIESChalo, a mobile app that assists users track buses across cities and book bus tickets online, said that it has got two-wheeler shared mobility company Vogo, in a significant consolidation move. A person aware of the matter said the the deal was a share-swap between the firms and does not involves any cash payout by Chalo to Vogo.India just hit a unicorn century. A unicorn is a start-up valued at or north of $1 billion. The unicorns are aptly anointed because just like the mythical creature, the rarity of such a wildly successful enterprise is improbable, but not impossible. Most companies that transcend this much-coveted valuation do so by constructing a moat, either with a unique service or product, or a polished go-to market strategy. They are either first to win a market or they become prominent and can displace incumbent competition consistently. A start-up announced as a unicorn deserve applause of the ecosystem as it is a robust signal of success. This, a key, as to `why,' repeatable generation of this elusive outcome is an important indicator of the strength of a country's start-up ecosystem.The first Indian unicorn was `MakemyTrip' which took a span of 10 years to become a unicorn company. Since then the pace of generating unicorns got catalyzed in India, start-ups are taking less time comparatively to join the club. The year 2021 has been an inflection point in India's start-up story, which is reflected at the growth of the `unicorn base' of the country. An overwhelming 46 of its 90 unicorns (observed at the end of the year) at 2021. 13 companies have turned unicorns in 2022 with 73 identified `soonicorns,' one to become a unicorn company soon. The year 2021 was remarkable in the sphere of unicorns because, 254 of the US' 489, 74 of China' 301, 15 of UK' 39. Unforeseen utilitarian and lifestyle changes induced by the pandemic has accelerated what was already `fast growing' economic growth engine worldwide.India also possesses five `Decacorns,' and they are renown among everyone, both children and adults. The Indian decacorns are, Flipkart, Paytm, BYJU', Oyo Rooms and Swiggy. All five are prodigious acquirers of other start-ups as a part of their strategy to continue expanding their platforms and offerings. While Paytm listed on the public market through its IPO in November 2021, the other four are in various stages of their IPO offerings in 2022.What Does Hitting 100 Unicorns Mean for Valuations in the Startup Ecosystem?The Start-up ecosystem in India has been upgraded and at present, functioning better, which added more fire-power, becoming the third largest hub globally after the US and China. India has more than 61,400 start-ups. After mighty 42 unicorns in the year 2021, the milestone of 100 unicorns was a touching distance BUDDING BIZZBy Team Startupcity
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