There is a fervent entrepreneurial spirit in the air in India right now and the government is doing its part in encouraging it. However, above all, the success of India's unicorns is what is propelling the Indian startup dream. Young Indians are drawing inspiration from the founders of successful ventures such as Flipkart and Ola Cabs and their efforts are being buttressed by the influx of abundant Venture Capital funds. This week we look at the Indian Unicorn club- Indian private companies valued at more than $1 Billion. We used data from CB Insights which maintains the list of unicorns.
Not surprisingly, Flipkart occupies the top spot with an estimated value of $16 Billion. In fact, Flipkart is valued higher than SpaceX ($12 Billion) and Dropbox ($10 Billion). Lets put that in perspective- India's most valuable public company is TCS and its valuation has hovered around $70 Billion. TCS is 48 years old whereas Flipkart is less than 9 years old! Next is another Ecommerce giant Snapdeal with an estimated value of $7 Billion. Both these companies are facing stiff competition from Amazon and may soon need to go public to raise cash and fend off Amazon. Ola Cabs and Paytm are the other high-value unicorns and are followed by Hike, Shopclues, and Zomato. CB Insights also maintains a list of private companies most likely to break into the Unicorn club soon and 2 other startups- Oyo Rooms and Grofers find a place on this list.
This is indeed a great time to be an entrepreneur in India. We hope the country creates dozens of more unicorns and valuable public companies which will employ millions of people and improve the quality of life for even more.