Investors mark down 'unicorn' tag for start-ups, chase real deal

Entrepreneurs, however, also need to realise that down-rounds are not much of a deal

Brand ‘unicorn’ is experiencing some rough weather after crossing the century-mark last year. With 2023 netting zero unicorns after a heady startup scene, investors are now getting real. Notional valuation, that saw the creation of as many as 107 unicorns (startups valued at $1 billion or more) in just a couple of years, doesn’t seem to be a hook for investors any more.

At a tech entrepreneur summit — TiEcon--in Mumbai, investors on Friday described public market debut and finding strategic buyers as the real deal for startups. They dismissed the term ‘unicorn’ as just a private mark-up in an investor’s