08/06/2022
💠 *Wednesday shots* 💠
✨Greetings from EDC✨
Unicorn startups are highly respected in the business world, and rightfully so. To become a unicorn startup, a company needs to reach an investor valuation of $1 billion or more, and as of 2022, there are only 554 unicorns worldwide. Entering into the unicorn club is a dream which is hard to achieve. Lately, India is an emerging unicorn producer but the profits earned by them are very less. As per Entrackr’s data, the top 5 profitable unicorns are Zoho, InfoEdge, Zerodha, Five Star and Dream11 with ₹1,917 crore, ₹1,409 crore, ₹1,122 crore, ₹359 crore and ₹327 crore clocked as profit during FY21, respectively. While Zoho and Zerodha are bootstrapped, InFoEdge is a publicly listed company and Sequoia Capital-backed Five Star is an NBFC. While the top loss making companies are Oyo, Udaan and Flipkart with more than ₹2,000 crore loss each in FY21.
Happy learning ✌️
Regards.