Will 2020 Be a Make or Break Year for Some Of India's Prominent Unicorns?
By Anuj Srivas
With the dismal performance of Uber’s initial public offering (IPO) and a near bankruptcy of WeWork, hype around the start-up world’s ‘unicorns’ was definitely more muted in global markets in 2019.
There were at least five unicorns, a term used for a start-up that is valued at more than $1 billion, that failed their investors in the US last year.
Will the ability of Indian unicorns to raise more funding be affected by the thinking of global investors? That is a key question as we move into 2020. According to a recent report from Nasscom, India currently has 24 start-ups with a valuation of more than $1 billion, with 52 more ‘potential unicorns’ in the works.
While 2019 saw the creation of 9 unicorns – the most prominent names of which include BigBasket, Delhivery, Lenskart, Rivigo and Zoho – it also saw the distress sale of well-known e-commerce venture Shopclues to Singapore’s Qoo10. .
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