Moneycontrol BureauWith a valuation of USD 9.39 billion, Flipkart is one of India's premiere tech startups that belongs to a rare species of ventures called 'Unicorns'.
Named after the elusive fictional beasts 'unicorn' is a collective term used for venture capital backed companies that are valued over USD 1 billion.
There are in total 177 such unicorns in the world and 9 such startups from India belong to this elite club.
Similar to the digital boom back in 2000, the startup phenomenon made rapid strides - both in terms of valuation and industrial disruption -- in the past few years and in the same way, like tech bubble burst, many investors have cast a skeptical view on this unicorn phenomenon.
As per a research report by CB Insights the number of tech unicorn exits globally (via IPO or M&A) exceeded the birth of such companies for the first time in six quarters.
For the second quarter (April-June) of 2016, there were five billion-dollar exits compared to 4 unicorn births, which has been on downslide since the fourth quarter of CY15.
In its 'Global Tech Exits' report for the first half of 2016, there was a 17 percent decrease in exits as compared to the same period in 2015, but on a quarterly basis the exits reached 820 in Q2CY16, a 6 percent increase, according to the report.
US led the pack with 857 mergers and acquisitions (M&A) and six IPOs and India outpaced China in overall exits with 86 M&As and 2 IPOs in the first six months of the year.
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