Exploring the success of Indian unicorns: A study of growth trends and economic impact

Abstract

In the world of start-ups, private companies with a valuation exceeding $1bn are called “unicorns.” The term was initially meant to symbolize the uniqueness and remarkable growth trend of these highly valued businesses. Furthermore, unicorns have evolved into representatives of creativity and economic vitality, driving the development of new technologies, the creation of jobs, and the generating of money within their ecosystems. This worldwide trend is reflected in the emerging startup culture in India, which has seen an incredible rise in the country in recent years. Notably, startups like Khan Academy, and BYJU have reached multi-billion revenues in the previous years. The ventures are not just profitable but they offer many opportunities and encourage creativity through the use of advanced apps and technology. This has helped the country to become the third largest global home to unicorns after China and America. Using the data collected between 2020 and 2021, this study seeks to explain why these start-ups were so successful. Moreover, this paper analyzes the latest funding, valuations, and comparison of profit and losses for various unicorn companies in different sectors by utilizing several chart visualizations and showing multiple factors contributing to their success. Furthermore, with this comprehensive analysis of unicorns’ financial characteristics and performance measures, this paper will offer insightful information on their sustainability and obstacles to maintaining their unicorn status and for the new startups to rise in this changing and dynamic industry.