What is a unicorn company definition? In the world of venture capital, any startup valued above $1 billion is referred to as a unicorn.
The term “unicorn” was originally coined by Cowboy Ventures founder Aileen Lee when she described the 39 companies with a value of more than $1 billion as “unicorns.” The phrase was first used to emphasize how uncommon such businesses are. Since then, the description of a unicorn startup has not altered. However, there are now more unicorns than ever.
India’s first unicorn company is Inmobi. InMobi might become the first of India’s unicorn companies to directly list on a U.S. stock exchange with a successful debut, underscoring the nation’s transition from information technology and outsourcing services. According to a person familiar with the idea, InMobi Pte, which offers mobile advertising services globally, intends to list in the United States by the end of the year. This might be the first of several Indian firms aiming for initial public offerings.
The software startup, which became India’s first unicorn company to achieve unicorn status with venture capital, might begin the IPO process in a few weeks when its board meets to discuss a listing, according to the individual who want to remain anonymous since the conversation was private. According to the source, the offering size could reach $1 billion, valuing InMobi between $12 billion and $15 billion.
InMobi might become India’s first unicorn company to directly list on a U.S. stock exchange with a successful debut, underscoring the nation’s transition away from information technology and outsourcing services. For InMobi’s major supporter SoftBank Group Corp., which owns around 40% of the company, the sale would be profitable, at least on paper.
According to the source, InMobi will submit an S-1 statement, a registration document, to the U.S. Securities and Exchange Commission in roughly three months. Following that, InMobi aims to hold an IPO roadshow. Goldman Sachs Group Inc., JPMorgan Chase & Co., and Citigroup Inc. are among the institutions negotiating to work on InMobi’s IPO.
The pandemic has expedited the move to mobile for gaming, streaming videos, and shopping, which has been advantageous for ad technology businesses like InMobi. The approach has been quickly followed and embraced by advertisers.
Naveen Tewari, a graduate of the Harvard Business School, co-founded InMobi in 2007 with other engineering and business school friends following a brief spell as a consultant at McKinsey & Co. In 2011, it became the country’s first unicorn.
Since then, the valuation of dozens more Indian tech businesses has surpassed $1 billion. Several of these, including food delivery company Zomato Pvt and online retailer Flipkart Online Services Pvt, owned by Walmart Inc., are planning listings in India or the United States.
Bangalore-based India’s first unicorn company previously said it was operationally profitable in 2017 and aimed to generate $1 billion in gross sales in 2019. It competes with Alphabet Inc.’s Google and Facebook Inc. in the digital advertising market, which Dentsu, an ad agency network, predicts will reach $579 billion in 2021.
Tewari’s second unicorn was created in December when Glance Digital Experience Pvt, his other business, earned $145 million from Google and Mithril Capital at a more than $1 billion valuation. A glance was founded less than two years ago and is majority-owned by InMobi.
Thus, after InMobi, there are 100s of companies that became unicorns with the help of VC funding. Thus, if any person needs VC funding, InvestorBase.io develop a user-friendly platform that allows founders to get insights and contact information of investors and act accordingly.