Last week, India became home to its 100th unicorn when Google backed neobank Open entered the $1 billion valuation club.?Other prominent companies in the unicorn list include MamaEarth, BharatPe, Byju¡¯s, CRD, Delhivery, Dream11, Flipkart, MakeMyTrip, Ola, Paytm etc.?But how many of these unicorn companies, some of whom have or are expected to launch IPOs too, are profitable?
According to details put forth by media platform?Entrackr¡¯s data tracking platform Fintrackr, only 18 out of the 100 unicorns in India have attained profitability in the last financial year, i.e.FY21. And 57 out of the 100 unicorns are reportedly deep in losses.
The remaining 25 from this list after accounting for the profitable ones and the ones bleeding, are mostly registered in the U.S. or Singapore and have reportedly not revealed their revenue, loss or profit figure.
The top 5 profitable unicorns as per Entrackr¡¯s data, are Zoho, InfoEdge, Zerodha, Five Star and Dream11 with ?1,917 crore, ?1,409 crore, ?1,122 crore, ?359 crore and ?327 crore clocked as profit during FY21, respectively. While Zoho and Zerodha are bootstrapped, InFoEdge is a publicly listed company and Sequoia Capital-backed Five Star is an NBFC.
Fintrackr data has also found that in terms of loss-making companies in this unicorn list, Oyo, Udaan and Flipkart were the top three loss-making unicorns with more than ?2,000 crore loss each in FY21.?
These top three loss-making companies were also on the list of top 10 revenue-generating companies in FY21. While Flipkart recorded ?42,941.7 crore revenue in FY21, Tata¡¯s BigBasket and Udaan posted ?12,595 crore and ?5,919 crore revenue respectively. Oyo was in the 6th position with ?3,961.6 crore in revenue.
Top profitable companies Zoho and Zerodha had reportedly registered ?5,230 crore and ?2,729 crore in revenue respectively, as per Fintrackr data.
In terms of valuation, Flipkart was at the top position with a $37 billion valuation followed by Edtech company Byju¡¯s $22 billion. While Nykaa became a decacorn in 2021, Swiggy entered the club in 2022.? Paytm, which was valued at $16 billion before going IPO, lost its decacorn status soon after the listing.
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As per data tracked from LinkedIn and mentioned in Entrackr¡¯s report, Flipkart had the most number of employees among the unicorns. The data reflects that Flipkart employs over 55,000 people, followed by Byju¡¯s, Swiggy, Ola and Zomato with 39,953, 18,459, 16,799 and 16,191 headcounts respectively. The number of employees may vary at these companies if we include gig employees such as temporary or contractual workers.
City-wise, Bengaluru was the top unicorn maker as 38 out of the 100 unicorns are based out of the city. Delhi NCR isn¡¯t far behind in the list as 30 startups from the region managed to make it to the list of 100 unicorns. Mumbai, Chennai, Pune and Hyderabad collectively produced 32 unicorns, as per Entrackr data.
Also Read:?90 Founders Amongst 500 US Unicorns Were Born In India
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