Business

Byju`s becomes the most valuable enterprise in India, 11th worldwide

New Delhi: Edju Tech Company Byju’s is now India’s most valuable unicorn company with a valuation of $ 16.5 billion, surpassing fintech company Paytm’s $ 16 billion valuation. According to the CB Insights data, Byju’s is the 11th most valuable start-up in the world as of June 2021. The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. The Chinese company Bytedance, the parent company of TikTok, is the most valuable company in the world with a valuation of $ 140 billion. Byju’s investors include Tencent Holdings, Lightspeed India Partners and Sequoia Capital India. It recently raised $ 350 million from UBS, private equity giant Blackstone, Abu Dhabi State Fund ADQ, Phoenix Rising and Zoom video conference founder Eric Yuan. One97 Communications, the parent company of Byju’s, has a valuation of $ 16 billion with investors such as Intel Capital, Sapphire Ventures and Alibaba Group.

EMIRATI TODAY - Emirati News, the UAE Daily News

Rise of unicorns

A unicorn company, or unicorn startup, is a private company with a valuation of more than $ 1 billion. As of June 2021, there are more than 700 unicorns around the world. Popular former unicorns include Airbnb, Facebook and Google. The variants include a decacorn worth more than $ 10 billion and a hectocorn worth more than $ 100 billion, CB Insights said. Oyo Rooms is valued at $ 9 billion by investors such as SoftBank Group, Sequoia Capital India and Lightspeed India Partners. The national stock exchange is valued at $ 6.5 billion with investors, including TA Associates, SoftBank Group and GS Growth. Ola Cabs is valued at $ 6.3 billion and has investors such as Accel Partners, SoftBank Group and Sequoia Capital. Zomato is valued at $ 5.4 billion with investors, including Sequoia Capital and VY Capital. Another food supply chain, Swiggy, amounts to $ 5 billion and its investors include Accel India, SAIF Partners and Norwest Venture Partners. Internet software company Dream11 is valued at $ 5 billion with investors including Kaalari Capital, Tencent Holdings and Steadview Capital. The logistics company Udaan is valued at $ 3.1 billion and has investors, including DST Global, Lightspeed Venture Partners and Microsoft ScaleUp. Fintech company Razorpay is valued at $ 3 billion by investors such as Y Combinator, Tiger Global Management and Matrix Partners India. The Fintech company Pine Labs is also valued at $ 3 billion by investors, namely MasterCard, Temasek and PayPal Ventures. Logistics Enterprise Delivery is another $ 3 billion investment company with investors, including Times Internet, Nexus Venture Partners and SoftBank Group. Policy bazaar is valued at $ 2.4 billion, Renew Power at $ 2.28 billion, fintech company CRED at $ 2.2 billion, consumer company FirstCry at $ 2.1 billion, software company Meesho at $ 2.1 billion , while Sharechat is also valued at $ 2.1 billion. Edtech company Unacademy is valued at $ 2 billion, e-commerce company Urban Company at $ 2.1 billion, BillDesk at $ 1.9 billion and DigitInsurance at the same number. Lenskart is valued at $ 1.5 billion, Five Star Business Finance at $ 1.4 billion, Rivigo at $ 1.07 billion, Snapdeal at $ 1 billion as well as Inmobi, Ola Electric, Cars 24, Daily Hunt, Infra Market and Groww.