India-based companies, Paytm and Zomato are among the 16 global companies that have joined $1 bn club this year.
According to the New York-based venture capital tracker CB Insights, this year Paytm and Zomato are among 16 global companies that have entered the $1 billion valuation league.
In the list, of the remaining 14 companies, 12 are from US and one each from China and UK. Last year, there were around five Indian companies including eCommerce players Flipkart and Snapdeal, cab aggregator Ola, data analytics firm Mu Sigma and mobile ad tech venture InMobi which hit ‘Unicorn’ status, the term used for those valued at $1 billion or more.
Still market is skeptical of Paytm and Zomato’s valuations, some investors are gauging Paytm at about $800 million and Zomato's at $750-800.
"Each has plenty of headroom to grow. These valuations clearly reflect India's improved macro political and economic environment. It anticipates huge positive impact of growth in mobile usage and tectonic shifts in consumer willingness to transact online", Ravi Gururaj, Chairman, Nasscom Product Council.