All startup owners strive to grow successfully and
accomplish their pinnacle. Many Startups start from scratch and only a few of
them break the ice and become the greatest. Those who survive are classified
into different categories as per their growing steps.
There are a lot of steps, a start-up needs to cross
for the badges of honors like Minicorn, unicorn, unicorn,decacorn, and lastly
hectocorn.
If you are interested to know more about these
interesting sounding terms, then this is the right article for you!
Minicorn
If we all were some stones in this concrete world
then our entrepreneurs are the shining gems. They are the ones taking initials
in making this world a comfortable and advanced place to live. Taking the less
travelled road, full of risks and new learnings is the definition of an
entrepreneur.
So, let's start with minicorn startups. Minicorn
startups are considered those companies with costs of more than $ 1 million.
These new companies have the potential of becoming a unicorn but still needs a
lot of improvement. These are the future unicorn businesses that can arise
anytime soon.
Soonicorn
Soonicorns are those companies that are principally
funded and financially supported by an Angel Investor or a venture capitalist.
It is done by viewing the future possibilities of the market or an apparent
valuation. The term soonicorns breaks down into 'Soon to be Unicorn' which
describes its whole meaning.
Over 26 soonicorns in India are waiting to get
listed in the unicorn club as per the sources of the data. It is estimated that
in the upcoming years, more minicorns will be transformed into soonicorns.
Soonicorns have reached over many industries including e-commerce, fin-tech,
AI, healthcare technology, logistics, etc.
Unicorn
The term 'Unicorn' is quite famous among the
general citizens. We all have heard it somewhere in the news, in articles or by
some friends. So the literal meaning of unicorn startup is a public
startup/company whose venture capital is 1 billion dollars or more than that.
This term was coined by Aileen Lee- the founder of Cowboy Ventures in
2013.
India is now the 3rd country in the global list of
the number of unicorns startups as many of our startups attained unicorn
status. Our fintech and e-commerce have companies established this unicorn
ecosystem and now the other sectors such as Ed-tech, food delivery and mobility
are also coming up.
Decacorn
Decacorn refers to a startup company whose current
valuation is over $ 10 billion. The 'Deca' in the term 'Decocorn' explains why
this explanation is appropriate for this name and vice versa.
There exists a very surprising fact that only 15
decacorn companies exist in the whole world. These are very less in number if
we compare this to the total registered startups in the world. Out of 15, 10
belong to the United States.
Hectocorn
The last term that we need to specify here is
Hectocorn. Hectocorn is also pronounced as the 'Super Unicorn'. An organization
whose value is more than $ 100 billion is called Hectocorn. It is not a simple
and sober startup that one can dream to build overnight. It is surely one of
the highest degrees of classification of startups.
The most famous companies' names that every person
of all age groups is acquainted with such as Apple, Google, Microsoft,
Facebook, Oracle and Cisco are some of the examples of hectocorn companies.
These were some of the terms that one must know
besides the very famous one, "Unicorn. As we are now in the era where
startups and companies are emerging very rapidly so we must keep ourselves
updated with the new terms and logic that might be of our use in the future.
Written By-Sanskriti Dimri
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