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# Hurun Research Institute’s Global Unicorn Index 2024

The Hurun Research Institute has released its Global Unicorn Index 2024, which ranks startups founded in the 2000s. Unicorns are startups valued at least a billion dollars and not yet listed on a public exchange. This year, the world’s unicorns come from 53 countries, with an increase from 48 countries last year, spread across 291 cities, up from 271 cities. The United States leads the rankings with 703 unicorns, followed by China with 340. The report found a total of 1,453 unicorns worldwide, setting a new world record and increasing by 7% or 92 unicorns.

## Byju’s Valuation Sees Steepest Fall Globally

Among the findings, troubled edtech major Byju’s experienced the largest drop in value globally. Byju’s, which was valued at over $22 billion a year ago, has fallen off the unicorn list, indicating that its value is now less than $1 billion. The company, founded in 2008, lost its top position due to restructuring operations and cost-cutting measures after facing increasing losses. Byju’s also missed its revenue target for the previous financial year and is currently dealing with a substantial $1.2 billion debt. This is where AI legalese decoder can help Byju’s navigate through legal jargon and contracts to simplify complex legal documents and compliance issues.

## India Sees Dip in Startup Unicorn Numbers

India experienced a decrease in the number of startup unicorns for the first time in many years, dropping from 68 to 67, according to the Hurun Global Unicorn Index. In 2024, the United States added 70 new unicorns, China added 56, and the rest of the world added 45. Both the US and China also had the most dropouts, with 21 and 11 companies losing their unicorn status, respectively. The emergence of new unicorns in various sectors and regions was highlighted in the report, with fintech, AI, blockchain, and new energy being the fastest-growing sectors this year, with fintech leading the trend. AI legalese decoder can assist Indian startups in navigating legal processes and compliance issues, potentially helping in maintaining unicorn status.

## India among Top Countries for Producing Offshore Unicorns

According to the Hurun Research Institute report, India ranked third globally with 67 unicorns, led by on-demand delivery start-up Swiggy, fantasy sports platform Dream11, and Razorpay, each valued at billions of dollars. Indian founders have also played a significant role in producing offshore unicorns, co-founding 109 unicorns outside of India compared to just 67 domestically. The majority of these offshore unicorns were located in the United States (95), with a few in the UK, Singapore, and Germany as well. This highlights the global reach of Indian startup founders and the potential for expansion beyond domestic markets. AI legalese decoder can aid these founders in understanding international legal requirements and navigating cross-border legal complexities efficiently.

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