WELCOME TO UNICORN CLUB
Now, this is not the time to just sit and repose for all sectors especially corporate sectors. This is time to seize the opportunity in this lockdown and pandemic has for us and companies or for that matter even business-minded humans made crores who thought good ideas and worked on it. Now what's a unicorn club you all must be wondering, so here is your answer. Companies with more than 1$billion in valuation enter this unicorn club. Every company wants to run in this race and enter the prestigious billion-dollar unicorn club one day. However, this isn't easy at all. It requires a lot of planning execution and a hell of a lot of determination. But most importantly it requires farsightedness. It's almost like who thinks first wins the race.
When it comes to Indian start-ups, they are not lesser than anyone. Indian start-ups giving hardcore competition to companies all around the globe. Start-ups including PINELABS, FirstCry, NYKAA, UNACADEMY, ZERODHA, RAZORPAY, AND POSTMAN attained unicorn status amidst this pandemic. Despite this pandemic, a business slowdown is an obvious setback every sector is facing. But companies rather used this as an opportunity and gained an esteemed position in the unicorn club. A whopping 24 startups have already made it to the list in the first eight months of 2021. BharatPe, Mindtickle, upGrad, Eruditus, Zetwerk, Grofers, and CoinDCX entered the unicorn club in August.
As per last year's TIE-Delhi-NCR report president, Rajan Anandan said the Indian unicorn club is expected to steadily expand through 2020-2021 which turns to be true as Eight startups — fintech startup CRED, social media startup ShareChat, wealth management company Groww, messaging platform Gupshup, social commerce startup Meesho and epharmacy PharmEasy — entered the unicorn club in April 2021. In May, Moglix and Zeta turned unicorns, while June saw the entry of BrowserStack. In July, logistics tech startup BlackBuck became a unicorn, followed by Droom and OfBusiness. India is on a path to have 100 unicorns by 2025, he added.
It is estimated that it roughly takes six years to become a unicorn, so it is fair to say that these companies have done a phenomenal job in their own respective field. Maintaining and then expanding takes a huge amount of investing and other things, especially during this time maintaining trust was equally important among all the employees, customers, shareholders, and investors. Running a business seems like a difficult scenario, let alone becoming a unicorn company. Balance of everything helped them increasing their turnover and achieving an eminent position in the corporate sector. Becoming a part of this club is a matter of pride and is a reputable standard to achieve in the entrepreneurial world. This lockdown had its own setbacks for the economy but apart from this, it was also a great shot for many co. amid all the possible threats. Some firms found their ways to forge ahead.
