HIGHLIGHTS:
- Swiggy was recently named the fourth Indian startup to receive the honour.
- The first Deccahorn was Facebook. It was given the moniker in 2007.
- The Deccahorns are the startup companies. They are appraised based on their potential for growth rather than their current financial situation.
What is in the News?
Decacorns are private companies with a market capitalization of more than 10 billion dollars. Swiggy was recently named the fourth Indian startup to receive the honour. Paytm, a FinTech, Oyo (a hotel aggregator), and Byjus are the other three companies that have already claimed the title (an Edtech).
The first Deccahorn was Facebook. It was given the moniker in 2007. After Microsoft invested 240 million dollars in Facebook, it became a Decacorns. The second Decacorns was Alibaba of China. In 2009, it was granted this status.
What are Decacorns?
The Decacorns are the startup companies. They are appraised based on their potential for growth rather than their current financial situation. Decacorns cannot be used to describe a company that has been acquired by another company. Flipkart, for example, is worth more than ten billion dollars. Flipkart, on the other hand, was purchased by Walmart. As a result, Flipkart cannot be referred to as Deccahorn. Furthermore, a government corporation cannot be called Decacorns. More than 84 Decacorns have been made since Facebook. Thirty-three of them had lost their identification tags.There are now roughly 51 Decacorns in the globe.
Regarding Deccahorns
Many businesses will have acquired the title by 2021. In 2021, the numbers were more than double what they were in 2020. The majority of these Decacorns are new businesses. Their numbers have risen in tandem with the advent of consumer technologies.
Decacorn’s most well-known sectors
Decacorns are typically employed in the following fields:
Artificial Intelligence, FinTech, transportation, e-commerce, marketplace, big data, consumer electronics, social, gaming, blockchain, hardware, internet software, hardware, computer hardware, and biotechnology are some of the terms used to describe on-demand, artificial intelligence, FinTech, transportation, e-commerce, marketplace, big data, consumer electronics, social, gaming, blockchain, hardware, internet software, hardware, computer hardware, and biotechnology.
Unicorn, Decacorn, and Hectocorn are three types of unicorns
Unicorn: Company worth is more than 1 billion USD
Decacorn: The company is worth more than ten billion dollars.
Hectocorn: The company is worth more than 100 billion dollars.
Are there any hectocorns?
Bytedance was the first hectocorn to be formed. Tik Tok’s parent company is Bytedance. In May 2020, it was worth 100 billion dollars. Following Bytedance, SpaceX was designated as the second hectocorn. These are privately owned businesses. They are not traded on the stock exchange.
