The startup world is full of buzzwords and terminologies that have become a part of our everyday language. One such term that has gained popularity in recent years is "unicorn." A unicorn startup is a company valued at over $1 billion.
But did you know that there are other "corns" in the startup world as well? Let's explore the different corns in the startup world!
What is a Startup?
Before we dive into the different ‘corns’ in the startup world, let's first define what a startup is. A startup is a company in its early stages of operation, typically founded by one or more entrepreneurs with the goal of developing a unique product or service that solves a problem in the market. Startups are often funded by venture capitalists or angel investors who believe in their potential to become profitable businesses.
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Different Corns in the Startup World
Minicorns are companies that have a valuation between $100 million and $1 billion, which places them in a unique position in the startup world. They have already proven their worth and have gained traction in their respective markets, but they have not yet reached the level of unicorns, which have a valuation of $1 billion or more.
The term "minicorn" was first used by Anand Sanwal, the founder and CEO of CB Insights, a market research firm. Sanwal coined the term to describe companies that had achieved significant growth and were on track to becoming unicorns but had not yet crossed that threshold.
While minicorns may not have the same level of hype or media attention as unicorns, they are still highly valuable companies with strong potential for growth. They have already proven their business model, gained traction in the market, and attracted significant investment. As a result, they are often considered less risky than earlier-stage startups and can be attractive investments for venture capitalists and other investors.
A soonicorn is a startup that has already achieved a valuation of $500 million to $1 billion and is expected to reach the $1 billion unicorn mark in the near future. They are often seen as the next big thing in the startup world, as they have already gained significant market share and are expected to grow exponentially.
Soonicorns are often in a high-growth phase, with a rapidly expanding customer base and a business model that has proven successful. They may have already received significant funding from venture capitalists and other investors, and they are well positioned to continue to attract investment as they scale. Soonicorns are often seen as attractive investments for venture capitalists and other investors, as they offer a high potential for growth and a strong likelihood of becoming unicorns in the near future. However, they are also considered riskier than established unicorns, as they may still face significant competition or other challenges as they grow.
Unicorns are private companies that have achieved a valuation of $1 billion or more. The term was first coined in 2013, since then, the number of unicorns has grown significantly, and they have become a symbol of success and innovation in the startup world.
Unicorns are often in high-growth industries, such as technology, e-commerce, or healthcare, and they have a unique business model that allows them to scale rapidly. They may have already received significant funding from venture capitalists and other investors, and they are often considered to be some of the most valuable and innovative companies in the world.
Unicorns are often considered attractive investments for venture capitalists and other investors, as they offer a high potential for growth and a strong likelihood of generating significant returns. However, they can also be risky, as they may face significant competition or other challenges as they continue to scale and expand.
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Decacorns are private companies that have achieved a valuation of $10 billion or more, placing them in an elite category of highly valued startups. Decacorns are even rarer than unicorns, and they often represent some of the most successful and innovative companies in the world.
Decacorns are often highly disruptive and innovative, and they have the potential to fundamentally transform the industries in which they operate. They are also highly sought-after by venture capitalists and other investors, who see them as a rare and valuable opportunity to invest in a highly promising startup.
While decacorns may be highly successful, they are also subject to intense scrutiny and face significant challenges as they continue to grow and scale. They may face increased competition, regulatory challenges, or other risks that can threaten their success.
Hectocorn is a relatively new term used to describe startups that have achieved a staggering valuation of $100 billion or more. These companies are even rarer than decacorns, and there are only a handful of them in the world.
Investing in a hectocorn is rare, as few companies have reached this level of valuation. While they are considered to be a relatively safe investment due to their established reputation, strong financial resources, and track record of success, they are still subject to the same risks and challenges that all companies face. They also face unique challenges, such as regulatory scrutiny and antitrust concerns.