You have read and heard a lot about Unicorn startups, but have you ever heard about Minicorn, Soonicorn, Decacorn or Hectacorn? Let’s know about these 5 types of startups.
Ever since the startup culture started in the country, you would often hear about Unicorn. This is actually a type of startup. A startup with a valuation of more than $1 billion is called a unicorn. At present there are about 108 unicorns in India and it is expected that in the next 5 years their number can increase up to 10 times. Well, you have read and heard a lot about Unicorn, but have you ever heard about Minicorn, Soonicorn, Decacorn or Hectocorn?
Let’s know about these 5 types of startups-
Minicorn Startup
When the valuation of a startup exceeds $1 million, it is called a Minicorn startup. In this way, it is easiest for any startup to join this club. Many startups start with a valuation much higher than this.
Soonicorn Startup
The startup between Minicorn and Unicorn is called Soonicorn. That is, its valuation is more than $ 1 million, but it is going to reach $ 1 billion very soon. That is, it is soon going to become a Unicorn. Although there is no definition in terms of valuation, but to understand it easily, some people call those startups as Soonicorn, which go beyond the valuation of $ 100 million, but the figures of $ 1000 million i.e. $ 1 billion would not have reached. This means that the startup which is soon going to become a unicorn is called Soonicorn Startup.
Unicorn Startup
Whenever startups are mentioned, then the name of Unicorn is definitely heard. The startup whose valuation exceeds $1 billion i.e. βΉ8200 crore is called a unicorn startup. There are about 108 unicorn startups in India. It is expected that by 2025 there will be around 150 unicorn startups in India. At the same time, in the next 4-5 years, the number of unicorn startups can increase up to 10 times.
Decacorn Startup
Decacorn startups are those whose valuation exceeds $10 billion. According to the data till January 2023, there are about 47 decacorns in the world, out of which only 5 are in India. These 5 decacorn startups of India are Flipkart, BYJU’s, Nykaa, Swiggy and PhonePe.
Hectacorn Startup
A startup whose valuation exceeds $100 billion is called a Hectacorn. It is also called Super Unicorn. There is not even a single Hectacorn in India. According to the data till March 2023, only SpaceX, Bytedance and Shein have reached this level in the case of Hectacorn in the startup world. At the same time, some big companies like Apple, Google, Microsoft, Facebook, Oracle and Cisco are also called Hectacorn.
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