E-commerce makes way for other sectors in Indian unicorn list

The pecking order of unicorns, start-ups that are valued at $1 billion and above, is changing rapidly with online retailers making way for start-ups in other sectors, even as they achieve unicorn status in record time. Year to date, five new companies have entered India’s unicorn club—Swiggy, PolicyBazaar, Freshdesk, Udaan and Oyo. Except PolicyBazaar and Freshdesk, all the others were founded after 2014. Udaan, a marketplace for businesses, was launched in late 2016, taking less than two years to become a unicorn.