Paytm Mall along with 5 Chinese companies lost their Unicorn Status

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Paytm Mall along with 5 Chinese companies lost their Unicorn Status
24 Dec 2021
5 min read

News Synopsis

According to the latest Hurun List, the e-commerce arm of digital payments platform Paytm, Paytm Mall has lost its status of 'unicorn' as the valuation of the company is now under a billion, which was valued at $3 billion in 2020. Unicorn is a privately held startup with a valuation of over $1 billion.

Eight more companies have also lost their unicorn status along with Paytm Mall, in which most of the companies are from China. 

Paytm got the status of 'unicorn' in 2018, after it raised around half a billion from SoftBank and others. The other companies that lost their status as unicorns are Katerra and Zume from the USA, Greensill from the UK, and Singulato, UCAR, Yiguo, Yixia, and Youxia from China.

The parent company of Paytm, 97 Communications has also witnessed an error of around $10 billion in its valuation on the second day of its listing on the stock market.