The Difference Between Unicorn, Decacorn and Hectocorn

BizGuru.me – Startup is a company that has just started and is in the development phase, usually still in their baby and digital based. Along with the appearance of startup in Indonesia, you may often hear the term unicorn decacorn and hectocorn.

Actually, what is the difference between Unicorn, Decacorn, and Hectocorn? Let’s look at the explanation!

The Difference

When a startup company starts to achieve various achievements and the value of the assessment increases, there will be several “levels achieved, namely:

Unicorn

The term unicorn comes from a mythological white horse species with one horn on the forehead. The company with a UNICORN degree is a business whose assessment reaches USD $ 1 million or equivalent to Rp14 trillion.

Unicorn animals are used in the context of startup companies because it is the same as UNICORN, the presence of startup companies that can achieve US $ 1 billion assessment is quite rare and sounds a little impossible.

The nickname was introduced by Aileen Lee, the founder of the Cowboy Ventures investment company in his article entitled “Welcome to Union Club: Learning from Startup Billion Dollars.”

In Indonesia, the feeling of being impossible for Unicorn companies slowly began to disappear, considering that some well-known companies have reached this ranking, such as Tokopedia, Traveloka, Bukalapak, and Ovo. After reaching the Unicorn level, these companies will go to the next level, Decasorn.

Decacorn

Decasorn is a combination of the word “Deka” (Greece) which means the number 10 plus the end for “Unicorn.” As the name implies, a company with decasorn level is a company that has a 10-fold assessment value of UNICORN, which is US $ 10 billion.

Some Asian companies that have reached this level are toutiau (Bypance), DJI innovation, take, and seven other companies.

Will not lose, Indonesia also has a company called Decasorn. Based on data from Cbinsight Real Time Unicorn Tracker in 2019, Gojek is the first company in Indonesia to achieve this level. The marketplace company, Tokopedia, is expected to follow the success of gournut in achieving a Decasorn degree in 2020.

Also Read: The Importance of Blogs for Online Business

Hectocorn

Hectocorn occupies two levels higher than Unicorn, which means that this title is pinned to companies whose assessment reaches US $ 100 billion.

Although there are so many companies that valuated far exceeding US $ 100 billion, the title Hectosorn cannot be assigned to them. The reason is that Hectosorn can only be obtained if the company is still a startup, aka startup which is actually still in the development stage.

At present, Indonesia does not have a hectosorn level company. From all over the world, the Hectocorn title is only owned by one company, namely Ant Financial, formerly known as Alipay, Financial Company (Fintech) affiliated with the Alibaba group.

Seeing the company’s difficulties that reached Hectosorn’s degree, the Minister of Communication and Information, Johnny G. Plate, intends to motivate the startup business to immediately reach Unicorn to the Hectosorn level to accelerate the increase in digital economic stratum in Indonesia.

What about your business? Have you started competing with another startup? But don’t forget, use the best cloud hosting to get a website that is always reliable, huh!

Conclusion

Now you know the difference between Unicorn, Decasorn, and Hectocorn, right? Don’t just understand that term, you can also have a business like this Startup company owner, you know! The key is to develop creativity outside the boundaries that can help many people around you.

One simple thing you can do is understand how digital technology works. Given that everything can now be accessed through the internet, applications and websites, it looks like you can also start using a website for your personal needs.