Not only Unicorn, Soonicorn is also looking at companies, know the meaning of this trendy term of startup world

Unicorn company means such companies, whose market valuation has gone up to 1 billion dollars. But there is another trendy term - 'Soonicorn.' What is a Soonicorn? Let's find out.

India has become the third largest startup ecosystem in the world due to the revolution of startup companies in the last few years. In July this year, Minister of State for Commerce and Industry Som Prakash had said that by June 30, 2022, the number of recognized startups in the country had increased to 72,993. How big was this figure in itself, understand it from the fact that in 2016 the total number of startup companies in the country was only 471. In the last years, the confidence to start a startup business has come in India due to the government initiatives and the environment created. There are many companies like Zomato, Ola which started as startups and now they are leading companies in their sector. After becoming the Zomato Unicorn Company, it has also been listed last year. To become a unicorn company means such companies, whose market valuation has gone up to 1 billion dollars. But there is another trendy term - 'Soonicorn.'

What is a Soonicorn?

You may have guessed its meaning from the structure of the word. It simply means - "A company that has the potential to be a unicorn soon" i.e. a company that has the potential to join the unicorn club soon, whose valuation is on the way to reach 1 billion dollars.

It usually happens that these companies currently get funding from angel investors or venture capital companies. In the industry in which the company is in, the valuation of the company is done on the basis of projections for the future and the assessment or assessment of the company's valuation. It also happens that big companies give funding to them considering their possibilities, due to which their net worth increases. Sometimes these companies also acquire them partially or wholly, due to which their valuation increases.

If you look at the names of some sunicorn companies in India's booming startup ecosystem, then the names of companies like Ather, BookMyShow, BankBazaar are included.