What is a Deccahorn?
Deccahorns are private firms whose value exceeded over ten billion USD. Recently Swiggy has become the fourth Indian company to earn the tag. The other three companies that hold the tag already are Paytm, a FinTech, Oyo (a hotel aggregator) and Byjus (an Edtech).
Facebook was the first Deccahorn. It earned the tag in 2007. Facebook became a Deccahorn after Microsoft invested 240 million USD in Facebook. Alibaba of China was the second Deccahorn. It achieved the status in 2009.
What are Deccahorns?
The Deccahorns are startup companies. They are valued for their potential growth and not for their financial perormances. A company that is acquired by other company cannot be called as Deccahorn. For instance, the value of Flipkart is more than 10 billion USD. However, Walmart has acquired Flipkart. So Flipkart cannot be called as Deccahorn. Also, a government company cannot be called as Deccahorn. After Facebook, more than 84 deccahorns were created. Of these 33 lost their tags. This leaves around 51 deccahorns in the world currently.
In 2021, many companies earned the tag. The numbers were double in 2021 as compared to 2020. Most of these deccahorns are startup companies. Their numbers increased with the increase in rise of consumer technologies.
Popular Deccahorn sectors
Mostly Deccahorns operate in the following industries:
On – Demand, Artificial Intelligence, FinTech, transportation, e – commerce, marketplace, big data, consumer electronics, social, gaming, blockchain, hardware, internet software, hardware, computer hardware, biotechnology
Unicorn, Deccahorn and Hectocorn
- Unicorn: Company value is more than 1 billion USD
- Deccahorn: Company value is greater than 10 billion USD
- Hectocorn: Company value is more than 100 billion USD
Are there any hectocorns?
Bytedance was the first company to become a hectocorn. Bytedance is the parent company of Tik Tok. It gained 100 billion USD value in May 2020. After Bytedance, SpaceX gained the tag becoming the second hectocorn. These companies are private companies. They are not listed in stock market.
Category: Economy & Banking Current Affairs - 2022
Topics: Alibaba • Artificial Intelligence (AI) • Blockchain • BYJU'S • Bytedance • deccahorn • E-commerce • EdTech • Facebook • FinTech • Flipkart • Oyo • OYO Rooms • Paytm • Social media • SpaceX • Swiggy • TikTok • Unicorn • Walmart
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