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WeWork, Airbnb among 10 biggest unicorns globally: This Indian start-up is also inching closer

Prachi Gupta
start up, TIEDS, IIT Roorkee, start up ecosystem, Internet of Things, HumbleShit, Safex Pay, Power Zest

While the Indian start-up ecosystem is one of the fastest-growing in the world and India is the fourth biggest destination for unicorns, none of the Indian companies features in the world’s ten biggest unicorns list. Of the ten companies that made it to the biggest unicorn rankings, seven are from the US alone including WeWork, Airbnb, and SpaceX. Indian start-ups like Zomato, Flipkart and Oyo do not feature among the biggest 10 but One97 Communications, the parent company of Paytm, is inching closer to the top spots. Also, India is expected to become the biggest unicorn destination of the world soon, a joint report by CREDAI, CBRE said this week, adding that a gamut of factors like “close integration of start-ups and conglomerates for delivering tech-enhanced services” will boost the same. 

“Unicorns have multiplied like rabbits, and investors have propped up the combined value of the world’s 326 unicorns to the tune of $1.1 trillion,” World Economic Forum reported. India is home to many successful start-ups in the world and the country is churning out one of the highest number of unicorns every year. In fact, in 2018 alone, 8 start-ups entered the $1 billion club including the food aggregators Zomato and Swiggy, Oyo, Byju’s, Paytm subsidiary Paytm Mall, and Udaan.

World’s top unicorns

Toutiao (Bytedance)- The Chinese company operates in Artificial Intelligence and has the backing of Sequoia Capital China, SIG Asia Investments, Sina Weibo, Softbank Group. 

Didi Chuxing- A China-based company that deals in auto and transportation, the company joined the billion-dollar club in 2014. 

JUUL Labs- This US company is backed by Tiger Global Management and operates in Consumer and retail.

WeWork- The US-based company is backed by multiple investors including T. Rowe Price, Benchmark Capital, SoftBank Group.

Airbnb- The US-based travel startup is worth over $29 billion and has General Catalyst Partners, Andreessen Horowitz, ENIAC Ventures as its investors. 

As of now, India's One97 Communications, Snapdeal, Ola, Byju's, OYO, Swiggy, Zomato, ReNew Power, BillDesk, Delhivery, Hike, Shopclues, InMobi, PolicyBaazar, Dream11, Big Basket, Rivigo, Ola Electric Mobility and Udaan are the only unicorn companies.