Unicorn is a privately owned startup company that is valued at more than 1 billion USD. The name is a reference to the mythical animal which is rarely seen as such highly valued start-ups are a statistical rarity. Similarly, terms like decacorn and hectocorn are used to refer to such startups valued at over 10 billion USD and 100 billion USD respectively. According to the recent Nasscom report, India saw the addition of 12 unicorns in 2020- the highest ever recorded in a single year.
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