Indian Unicorn Issues
Indian Unicorn Issues India has been in a leading position in technology services for the past two decades—this is old news. But its IT services revenues shot up to $194 billion last year. Until 2015, India was not a big domestic player. There were no major exits that can be classified as a Unicorn success. That changed when, in 2018, Walmart acquired India's first Unicorn Flipkart for a whopping $16 billion . Surprisingly, Walmart found that a small subsidiary of Flipkart, PhonePe was valued recently at $5.5 billion . This was the beginning of a gold rush in the Indian technology scene. There have been a plethora of investments that are considered Unicorns. India now has more than 90 Unicorns and is moving quickly to cross the 100 mark. Tiger Global, Sequoia and other leading U.S. and global investors are in a tearing race to find companies that can scale at incredible speed. Young founders are dreaming of minting many 100s of next-generation st