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<ul><li><keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> is the latest startup to attain the $1 billion valuation.</li><li>This year, India has already seen 8 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> joining the unicorn club. </li><li>With 3 months left for 2019, this year could break 2018’s record of 8 unicorns.</li></ul>India’s unicorn club seems to be having a good year as eight startups joined the coveted club In 2018, eight startups turned unicorns basically reached $1 billion in valuation. Here’s a look at all the startups that have crossed the valuation mark so far in 2019. Rivigo The latest startup to join the unicorn club is logistics startup Rivigo. The logistics sector had long been in the limelight after Delhivery turned unicorn. After this, both Rivigo and Blackbuck raised funds, heating up the race to being a unicorn. Now, Rivigo has managed to be a unicorn after it raised $4.9 million from South Korea's KB Platform Fund. After the deal closed, it is valued at $1.05 billion. Delhivery In March this year, Delhivery became 2019’s first unicorn. This was after the logistics tech startup raised $395 million from SoftBank. After its funding in March, it’s valued at $1.6 billion. The logistics solutions company was founded by Sahil Barua, Mohit Tandon, Suraj Saharan, Kapil Bharti and Bhavesh Manglani. They created a stronghold in the market by partnering with e-commerce majors like Flipkart and Paytm amongst others. Big Basket The grocery retail startup became a unicorn in March 2019. Bigbasket closed its Series F round of funding with an investment of $150 million, which valued it at $2.3 billion. The funding was led by Bigbasket’s earlier investor Alibaba, along with a new investor – Mirae Asset. The grocery sector which is now buzzing with new entrants like Swiggy. Grofers too turned its finances around, and has recently turned a soonicorn after the latest round of funding in May 2019. Ola Electric Ola’s subsidiary Ola Electric also turned a unicorn like its parent company. Its growth has also been fast as most of Ola’s existing investors placed their bets on the company. In July, it became a unicorn after raising $250 million from Softbank. In May, Ola Electric also raised funds from former Vodafone Group CEO Arun Sarin. Some of its other illustrious investors include Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Dream 11 India’s first gaming unicorn is Dream11, a fantasy gaming startup. It announced a secondary investment from Steadview Capital, an Asia-focused alternative asset manager in April 2011 which gave brought it its unicorn status. The 11-year old startup had a dream run in 2019, after signing up with IPL and the BCCI as its official partners. The cricket world cup along with IPL helped it clock in stellar numbers. In an interview with Business Insider, one of its founders Bhavin Sheth said that the startup hopes to hit 100 million users by the end of the year. Icertis In July 2019, India and US-based Software-as-a-Service (SaaS) platform Icertis became a unicorn. It raised $115 million in funding from Azim Premji’s Premji Invest and US-based VC firm Greycroft. The company, which offers contract management, has 5.7 million contracts across 90 countries. Some of its are Adobe, Airtel, Cognizant, Infosys, and Microsoft. Druva The Indo-US startup Druva entered the unicorn club in June 2019. The cloud data protection startup raised $130 million in a round that was led by Viking Global Investors. It also saw participation from funds like Neuberger Berman and Atreides Management. Existing investors Riverwood Capital, Tenaya Capital, and Nexus Venture Partners too participated in the round. Druva is a SaaS (Software as a Service) startup which was founded by Jaspreet Singh and Milind Borate in 2008. Its patented cloud architecture enables cyber governance, improves cyber resiliency, and helps customers gain critical insights. Citius Tech The healthtech company was a lesser known startup which gained unicorn status. The company provides healthcare solutions, using technologies like business intelligence, mobility and IoT, Big Data, cloud computing, predictive analytics and data science. The company was acquired by Baring Private Equity Asia in July 2019, which gave it a valuation of $1 billion.

With Rivigo joining the club, these are the 8 unicorns of 2019 so far

<ul><li>Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> today account for 430,000 jobs, and added 60,000 of them in 2019.</li><li>According to the latest Nasscom-Zinnov report, India now has the third highest number of unicorns in the world.</li><li>However, India’s 24 unicorns are nowhere compared to China’s 206 and US’ 203 unicorns. </li></ul>Indian startups have been growing rapidly in the last few years and it has become the third largest startup ecosystem in the world. India is also home to the third highest number of unicorns, according to the Nasscom-Zinnov report Indian Tech Start-up Ecosystem – Leading Tech in the 20s. In the first eight months of 2019, India added 7 unicorns, taking their number to 24. Though India is at the third position— it is nowhere close to that of China’s 206 unicorns and US’ 203. But <keyword id="2023759" type="PERSON" weightage="20" keywordseo="startups-in-India">startups in India</keyword> are also solving its gravest problem — of unemployment. Startups account for 430,000 jobs, and added 60,000 of them in 2019 alone. There are also 50 more startups with the potential to turn unicorns. As many as 35 of them might reach the $1 billion valuation in the next two months as they are a part of soonicorn list. The cumulative valuation of all Indian startups stands at a massive $101 billion. Not just that, India now has about 9,300 tech startups alone, while 1,600 are deep tech startups. It also has 335 incubators and accelerators. "The start-up landscape in the country is becoming the epitome of innovation, with companies bringing out solutions that are aimed at solving locally relevant issues. However, to simulate innovation, government and corporates need to focus on increasing their role as prominent stakeholders playing the part of venture capitalists and providing the appropriate market access, funding, and guidance to seed stage start-ups,” said Debjani Ghosh, President, <keyword id="6372077" type="ORGANIZATION" weightage="20" keywordseo="nasscom">NASSCOM</keyword>. The report also adds that India will see 100 unicorns by 2025 and will create over 1.1 million direct jobs.

The $101 billion valuation Indian startup ecosystem made way for 60,000 jobs in 2019

<ul class="summary-list"><li>The rapid shift to virtual learning this spring has blurred the line between students' homes and schools, immediately sparking privacy scandals like "Zoom bombing."</li><li>But the new school year has brought new and unexpected side effects, like parents <a href="https://www.insider.com/elementary-school-teacher-asks-parents-to-behave-appropriately-2020-9">appearing on screen intoxicated or nude</a> and school officials <a href="https://www.washingtonpost.com/nation/2020/09/08/black-student-suspended-police-toy-gun/">calling the police on a Black student</a> for playing with a toy gun.</li><li>Privacy advocates and education experts worry the increased reliance on edtech tools has forced parents to choose between keeping their kids' schooling on track and protecting their civil liberties.</li><li>Citing tech companies' shaky track record on privacy, they're seeking to empower schools, parents, and students to make smart choices about the tools they use and exercise their rights.</li></ul>The COVID-19 pandemic hit fast and hard this spring, and just as quickly, schools across the US were forced to switch to virtual learning.While Zoom classes and other online tools provided a valuable lifeline to keep students connected and provide some relief for parents, they also immediately sparked privacy concerns, like "<a href="https://www.insider.com/what-is-zoom-bombing-illegal-2020-4">Zoom bombing</a>" (a trend where people join video classes uninvited, sometimes <a href="https://www.insidehighered.com/news/2020/04/03/zoombombing-isn%E2%80%99t-going-away-and-it-could-get-worse">bombarding them with pornography or slurs</a>), <a href="https://www.businessinsider.com/zoom-sued-allegedly-sharing-data-with-facebook-2020-3">unwitting data sharing</a>, and <a href="https://www.theverge.com/2020/4/29/21232777/examity-remote-test-proctoring-online-class-education">creepy digital test proctoring</a>."When schools were shut down in March when the pandemic and the lockdown started, I think we were in survival mode," Cheri Kiesecker, the cochair of the Parent Coalition for Student Privacy, told Business Insider."Unless school districts really had privacy on their radar ahead of time, it was: 'How do we keep students connected?' And, 'We'll worry about the privacy issues later,'" she said.With the new school year in full swing, many schools still haven't dealt with those issues. Now they're mutating in unexpected and even more serious ways.Last month, Colorado <a href="https://www.insider.com/colorado-school-called-sheriff-black-boy-toy-gun-zoom-class-2020-9">school officials called the police</a> on — and then suspended — a 12-year-old Black student after he showed a toy gun during his Zoom class. A Florida teacher also pleaded with parents to "have on proper clothing" and avoid "appearing with big joints" after she and other teachers in her district said they observed parents <a href="https://www.insider.com/elementary-school-teacher-asks-parents-to-behave-appropriately-2020-9">partially nude and using drugs and alcohol</a> in the background of virtual lessons.As more side effects arise, privacy and edtech experts are scrambling to help administrators, teachers, and parents keep students engaged and learning without completely clicking away their civil liberties.<h2>Redrawing the boundaries</h2>"We've gone from the separation between home and school to a complete breakdown of the boundaries between the two without really training teachers or parents and guardians or students for what that means for their own privacy and learning," Dr. Torrey Trust, an associate professor of learning technology at the University of Massachusetts Amherst, told Business Insider.Trust said teachers were hardly given any advice on how to talk to students about setting up their space at home to ensure they aren't accidentally sharing private information — details, she said, that could subject students to bullying or require a teacher to report them to school administrators or even law enforcement."For many children, this can be uncomfortable. The inequities that exist in education are even more visible in this format," Heather Johnson, an associate professor of science education at Vanderbilt University, told Business Insider.Even though the distractions may look different through a computer screen, teachers still fundamentally face the same challenge of whether, when, and how to respond to incidents and still cover the material, according to Johnson."Sometimes, if you stop instruction to respond to it in the moment, it can make the situation worse. So calling out a parent who's drinking a beer is really calling out the student, which isn't fair to the student who's not engaging in the behavior," she said, adding that while teachers should intervene if they're concerned about a child's safety, "it's not the teacher's responsibility, though, to manage the parent's behavior."Situations like the one in Colorado also raise new and concerning legal questions because of how they blur the line between public and private places, according to Kiesecker."Is that actually a Fourth Amendment violation of warrantless search and seizure because you didn't invite them in your home, yet your kid is getting suspended or police are being called because of something that was seen on Zoom," she said."Parents and students are upset enough that they're seeking attorneys and actually saying: 'You know what? You are violating my civil rights by requiring me to have my camera on and have the background of my home,'" she added.<h2>The edtech calculus</h2>Beyond the challenges teachers, students, and parents face as they learn how to use new technologies effectively, safely, and legally, there's also the more basic question of whether they should use a specific tool in the first place — or what the trade-off is for doing so.Free edtech offerings, from startups and tech giants alike, have exploded since March, with a list compiled by <a href="https://thejournal.com/Articles/2020/03/13/Free-Resources-Ed-Tech-Companies-Step-Up-During-Coronavirus-Outbreak.aspx?Page=67">THE Journal</a> now totaling more than 400. Zoom, Google, and Microsoft have made their videoconferencing features <a href="https://blog.zoom.us/how-to-use-zoom-for-online-learning/">free or highly discounted</a> for educators, helping them acquire <a href="https://www.forbes.com/sites/mikemontgomery/2020/06/04/the-pandemic-should-have-been-edtechs-moment-to-shine-so-far-it-hasnt-been/#254cec4949f3">millions of new users</a> in the process, and the pandemic has <a href="https://www.edsurge.com/news/2020-06-11-the-post-pandemic-outlook-for-edtech">minted several edtech unicorns</a> this year, including Udemy, ApplyBoard, Course Hero, and Quizlet.But those tools still come at a price."My biggest worry is anytime something's free, they're getting money somehow, and almost always it's from collecting student data," Trust said.Her concerns are already being validated: <a href="https://www.businessinsider.com/zoom-sued-allegedly-sharing-data-with-facebook-2020-3">Zoom was sued in April</a> over accusations that it was sharing data with Facebook without telling users. <a href="https://www.cnet.com/news/two-children-sue-google-for-allegedly-collecting-students-biometric-data/">Two children sued Google</a> over suspicions that it collected their biometric data. And tens of thousands of students across the US have filed petitions demanding schools abandon their use of intrusive proctoring tools like <a href="https://www.eff.org/deeplinks/2020/09/students-are-pushing-back-against-proctoring-surveillance-apps">Proctorio, ProctorU, and Honorlock</a>."When all of these companies that seem to be doing the right thing and sharing free access to their tools, teachers were jumping on it, and they weren't really reading the terms of service or privacy policy in depth enough," she said.Despite the privacy concerns, many of these tools have proved invaluable for schools and parents trying to minimize disruptions to students' education during the pandemic, such as recorded class sessions."Protections are important, but I do think it is important to have these videos of classes, especially in some of our districts where the students just, for whatever reason, cannot connect at the time of class, and they're able to catch up later," Johnson said, alluding to the <a href="https://www.pewresearch.org/fact-tank/2020/03/16/as-schools-close-due-to-the-coronavirus-some-u-s-students-face-a-digital-homework-gap/">digital "homework gap"</a> that has disproportionately affected Black, Latinx, and lower-income students.A <a href="https://cdt.org/wp-content/uploads/2020/09/CDT-Parent-Student-Data-Privacy-Report-Slides.pdf">survey of 1,200 parents</a> conducted by the Center for Democracy and Technology in May and June found that "solid majorities believe technology is 'worth the risk' to deliver key education benefits" such as clear and timely communication, engaging learning environments, individualized instruction, and "learning continuity during man-made or natural emergencies."Yet that same CDT survey, which showed that "student data privacy and information security are mid- to low-level concerns of parents, outranked by concerns about overall well-being of the student" also said "concern increases as parents are exposed to more information about student data privacy and security."When the survey asked about scenarios where law enforcement might gain access to student records or schools might collect biometric data, Black and Hispanic parents' levels of concern were especially high.Kiesecker said students and parents shouldn't have to sacrifice their privacy rights for a quality education in the first place, however."It feels to me like it's a choice of your civil liberties or attending school. And students shouldn't be put in that position," she said. "The price of attending public education shouldn't be giving up your privacy, especially for a child; children's privacy should be the most sensitive and the most protected."<h2>It takes a village — and stronger laws</h2>Trust and Kiesecker agreed students, parents, and educators could take advantage of the benefits of certain edtech tools without giving up their privacy rights but that the burden shouldn't fall entirely on individual teachers, parents, or even schools.Trust said teachers should run new digital tools by their school's IT department, which may be more knowledgeable about privacy issues, while school districts and administrators need to take a proactive role in developing policies around technologies that "support teachers and learning how to find and evaluate and use technology in their classrooms."She also worked with her students to develop a <a href="https://edtechbooks.org/digitaltoolsapps">free guide for teachers</a> on how to evaluate digital tools, including <a href="https://edtechbooks.org/digitaltoolsapps/evaluatingcostprivacydata">a chapter devoted to understanding privacy</a>, adding to a growing list of resources meant to empower teachers and parents, such as:<ul><li>Common Sense's privacy evaluations for <a href="https://privacy.commonsense.org/evaluations/1">more than 900 popular edtech apps</a>.</li><li>The University of California at Berkeley's <a href="https://search.appcensus.io/">AppCensus</a>, which scores Android apps.</li><li>A <a href="https://themarkup.org/blacklight">real-time website-privacy inspector</a> from The Markup, an investigative-journalism outlet.</li><li>Forms created by the Parent Coalition for Student Privacy (which Kiesecker helps run) to help <a href="https://www.studentprivacymatters.org/excerise_your_rights/">parents exercise their privacy rights</a>.</li><li>The Future of Privacy Forum's <a href="https://studentprivacycompass.org/resources/educatortraining/">crash course for educators</a> on how to navigate student privacy during the COVID-19 pandemic.</li></ul>Ultimately, however, Kiesecker and other privacy advocates say there needs to be stronger legal protections and incentives for both schools and companies to look out for students' privacy.<a href="https://tech.ed.gov/privacy/#:~:text=Family%20Educational%20Rights%20and%20Privacy,to%20their%20children's%20education%20records.">At the federal level</a>, the Family Educational Rights and Privacy Act (FERPA), Children's Online Privacy Protection Act, Children's Internet Protection Act, and the Protection of Pupil Rights Amendment give parents some degree of control over their kids' education records, which data companies or schools can collect about them, and what digital information schools can show them. Individual states have also adopted a <a href="https://studentprivacycompass.org/state-laws/">patchwork of additional laws</a>, <a href="https://epic.org/state-policy/student-privacy/">some stronger than others</a>.But tech companies' report card on following those laws isn't perfect. <a href="https://www.businessinsider.com/youtube-google-ftc-settlement-child-privacy-law-coppa-2019-9">Google paid $170 million</a> last year to settle a lawsuit over allegations that YouTube collected kids' data without their parents' consent, and a 2017 study from the <a href="https://www.eff.org/wp/school-issued-devices-and-student-privacy">Electronic Frontier Foundation</a> said "meaningful improvements in student data protection will require changes in state and federal law, in school and district priorities, and in edtech company policies and practices.""We really need to fix FERPA," Kiesecker said. "It's a 40-year-old law and it needs to be updated. And it needs to be strengthened so that the onus isn't on the school district to try to vet and read word for word all these contracts that legal teams for these big edtech companies have put together and each school is on their own."She added: "Teachers and schools need to have data to be able to assess where the students are and if they're learning, but when you have edtech companies with algorithms that we cannot see the efficacy of, that haven't been vetted … there's a problem."

As Zoom classes take over during the pandemic, edtech companies provide a lifeline, but only for schools and parents willing to surrender their students' privacy

ReutersLior Div, CEO Cyberreason<ul class="summary-list"><li>In 2019, over 140 companies worldwide became valued at $1 billion or more, earning the coveted title of unicorns, according to Crunchbase and CB Insights.</li><li>We sifted through those databases to glean the US companies that service the enterprise B2B market.</li><li>We limited our search to companies with products that could be used by just about any company - excluding those that serve very particular industries like finance or autonomous vehicles.</li><li>Here are the 24 enterprise startups that became unicorns in 2019.</li><li><a href="https://www.businessinsider.com/prime">Click here to read more BI Prime stories</a>.</li></ul>A total of 142 companies worldwide became recognized as unicorns - startups with valuations of $1 billion or more - <a href="https://news.crunchbase.com/news/the-new-unicorns-of-2019/?utm_source=cb_daily&amp;utm_medium=email&amp;utm_campaign=20191227&amp;utm_content=intro&amp;utm_term=content&amp;mkt_tok=eyJpIjoiWkdWbFpqaGtNREkzTWpVNCIsInQiOiJiUUxXeml3VGsrSVZRbEpcLytqVHM1RGdjZHVLMENqXC9ScHZVVWxsc1BwYlZKdFBjWWhPK0tMTFlodWhhbDZzWjNubzVHdkZUbVdtRkozUEFFdklOOVh6NlZBRFlGeGdpTWtLZCtIdUROV2ZCRkZEMGtTTk1mc2o3dE9CbENjSVVLIn0%3D">according to deal tracking database Crunchbase, </a>which now tracks 538 such companies.The other well-known database, from <a href="https://www.cbinsights.com/research-unicorn-companies">market researcher CB Insights,</a> is now tracking 430 unicorns worldwide.Business Insider sifted through those lists to find the companies that earned their horns in 2019 by offering their wares in the world of business-to-business (B2B). Which is to say: enterprise startups.For the sake of brevity, we limited this list to US companies with generalized enterprise business tech and did not include B2B companies that target specific needs of specific industries such autonomous vehicles or the finance industry.Even so, the list of new enterprise unicorns in 2019 tallied in at an impressive 24 companies. We are reporting the metrics on these companies including dates, estimated valuations and lead investors according to <a href="https://www.cbinsights.com/research-unicorn-companies">CB Insights' list of Global Unicorns.</a> And one thing is obvious: 2019 was a good year for enterprise startups raising money at hefty valuations.Are you an insider with insight to share? Contact Julie Bort on encrypted chat app Signal at (970) 430-6112 using a non-work phone (no PR inquiries, please), or email at jbort@businessinsider.com. Open DMs on Twitter @Julie188

The 24 enterprise startups that became unicorns with valuations of $1 billion or more in 2019

REUTERS/Lucas JacksonA trader watches the screen at his terminal on the floor of the New York Stock Exchange in New York October 15, 2014. <ul><li>2019 was a tough year for unicorn startups - privately held companies valued at more than $1 billion - going public through an initial public offering process. </li><li>Though the first half of the year was strong for IPOs, "investors got really turned off" after big disappointments from companies like Uber and Lyft, according to Kathleen Smith of Renaissance Capital. </li><li>Still, the IPO market as a whole has outperformed this year. The <a href="https://markets.businessinsider.com/etfs/renaissance-ipo-etf">Renaissance IPO ETF</a> is up 30% this year compared to the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500 index</a>, which is up roughly 25% in the same time frame. </li><li>Here are the biggest unicorn IPO flops of the year. </li><li><a href="https://www.businessinsider.com/">Read more on Business Insider. </a></li></ul>This year has been a rough one for some companies trying to go public through an initial-public-offering process, or IPO. Unicorn startups, or privately held companies with valuations over $1 billion, didn't fare very well in the public markets in 2019, as investors <a href="https://markets.businessinsider.com/news/stocks/ipo-market-outlook-trends-why-investors-rebelling-against-unicorns-implications-2019-9-1028570687">grew increasingly wary of unprofitable companies</a>. "I think the market was very robust all the way through the first half," said Kathleen Smith, principal at Renaissance Capital, a provider of institutional research and IPO exchange-traded funds. But then, a few weak IPO performances early in the second half spooked investors, Smith told Markets Insider in an interview. "Investors got really turned off," Smith said, and they stopped flocking to buzzy unicorn IPOs. "I'll call it a buyer's strike, not wanting to participate because there were such big disappointments." Those large "unicorn" disappointments weighed on IPOs for the rest of the year. In the fourth quarter, most companies going public have priced at the lower end of their proposed ranges, Smith said. While that can be frustrating for companies that use the IPO process to raise capital, it is good for investors, Smith said, because companies that are underpriced tend to gain in the market later."When investors are risk averse, IPOs are priced better," she said. "This is a good time for investors in the IPO market, not such a good time for companies." Overall, the IPO market slowed this year, Smith said. In 2019, 152 companies IPO'd, raising roughly $44 billion, according to Smith. That's less than 2018, when 192 companies IPO'd and raised nearly $47 billion in proceeds, Smith said. Still, IPOs in general - not just those with sky-high valuations - performed well for investors in 2019. The <a href="https://markets.businessinsider.com/etfs/renaissance-ipo-etf">Renaissance IPO ETF</a> is up 30% year-to-date through Tuesday's close, compared to the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500 index</a>, which is up roughly 25% in the same time frame. Smith said that in 2020, it's likely that companies will try to push back on the processes available to them for becoming public, because the "regular IPO process is not working" for all companies. That could include more direct listings, like <a href="https://markets.businessinsider.com/news/stocks/slack-technologies-stock-price-direct-listing-new-york-stock-exchange-2019-6-1028295252">Slack in 2019</a> and <a href="https://www.businessinsider.com/spotify-stock-price-ipo-ticker-time-what-to-expect-as-the-streaming-music-giant-goes-public-2018-4?utm_source=markets&amp;utm_medium=ingest">Spotify in 2018</a>, even though they haven't been successful for investors, she said. Here are the top unicorn IPO flops of 2019, in chronological order:<a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=wework&amp;itm_campaign=40-big-tech-predictions-for-2019-2"></a>

WeWork, SmileDirectClub, and Peloton: Here are the 5 biggest 'unicorn' IPO flops of 2019

Hello,Welcome to <keyword id="11421931" type="UNKNOWN" weightage="60" keywordseo="insider-healthcare">Insider Healthcare</keyword>. I'm Lydia Ramsey Pflanzer, and today in <keyword id="6354525" type="UNKNOWN" weightage="100" keywordseo="healthcare">healthcare</keyword> news:<ul><li><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">We rounded up 6 startups tackling mental and behavioral health for kids and young adults</a>;</li><li><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">Meet the 11 newly minted healthcare unicorns of 2021</a>;</li><li><a href="https://www.businessinsider.com/analysis-upstart-insurers-alignment-bright-and-clover-are-employing-doctors-2021-7"></a><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Why companies that make apps and video games could be prime takeover targets for telehealth firms</a>.</li></ul>If you're new to this newsletter, <a href="http://newsletter.businessinsider.com/join/4np/newsletter.businessinsider.com/join/4np/insider-healthcare">sign up here.</a> Comments, tips? Email me at <a href="mailto:lramsey@insider.com">lramsey@insider.com</a> or tweet <a href="https://twitter.com/lydiaramsey125">@lydiaramsey125</a>. Let's get to it...<h3><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7"></a></h3><h3><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">6 startups to watch that are tackling youth mental and behavioral health</a></h3><ul><li>These six mental- and behavioral-health startups are focusing on children and students.</li><li>Young people's <keyword id="6354774" type="ORGANIZATION" weightage="60" keywordseo="Mental-health">mental health</keyword> has deteriorated during the pandemic.</li><li><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">Mental-health startups raised over 50% more money in 2021's second quarter than in its first.</a></li></ul><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">Here's the full list&gt;&gt;</a><h3><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7"><div type="image" title="CMC9165 143 (4)" height="3354" width="4472" msid="84646146" hostid="261"></div></a> <a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">VCs just can't get enough of healthcare. Here are the 11 top upstarts they propelled to billion-dollar status.</a></h3><ul><li>Healthcare startups raised about $35 billion globally in 2021's second quarter, CB Insights reports.</li><li>Among them are 11 companies valued for the first time at more than a billion dollars each.</li><li><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">The startups, spanning from telehealth apps to dental clinics, are valued at a combined $27 billion.</a></li></ul><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">Find out more about the newly minted unicorns&gt;&gt;</a><h3><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7"><div type="image" title="Akili EndeavorRx4" height="1001" width="1337" msid="84646148" hostid="261"></div></a></h3><h3><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Apps and video games are changing the way we treat diseases. Experts say they're prime M&amp;A targets for telehealth firms.</a></h3><ul><li>Apps and <keyword id="25195" type="PERSON" weightage="60" keywordseo="video-games">video games</keyword> that can treat health conditions nabbed $1.2 billion in VC dollars in 2019.</li><li>Only a few commercial products have been launched so far, and they're struggling to penetrate the healthcare system.</li><li><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Experts say this field is primed for consolidation and could be a great target for telehealth firms.</a></li></ul><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Get the full story&gt;&gt;</a>More stories we're reading:<ul><li><a href="https://www.businessinsider.com/pfizer-vaccine-works-against-delta-covid-but-both-shots-needed-2021-7">Pfizer's COVID-19 vaccine works very well against the Delta variant - but only after 2 doses</a> (Insider)</li><li><a href="https://www.healthcaredive.com/news/medical-debt-overtakes-nonmedical-as-largest-source-in-collections-covid-1/603696/">A new study found that medical debt has hit $140 billion, overtaking all other kinds of personal debt</a> (HealthcareDive)</li><li><a href="https://www.businessinsider.com/delta-variant-vaccine-booster-johnson-jj-covid-study-effectiveness-2021-7">Johnson &amp; Johnson's vaccine produced fewer antibodies against Delta compared with other shots in an experiment. Experts say we shouldn't worry about the results.</a> (Insider)</li><li><a href="https://www.washingtonpost.com/climate-environment/2021/07/21/heat-wave-death-portland/">How isolation and disparities can make heat waves deadly</a> (Washington Post)</li><li><a href="https://www.businessinsider.com/what-to-do-if-vaccinated-and-exposed-to-covid-experts-2021-7">What to do if you're exposed to COVID-19 after being fully vaccinated, according to experts</a> (Insider)</li></ul>- Lydia

Meet the startups tackling youth mental health

<div class="KonaFilter image-container display-table"><div><div class="image on-image">John ZimmerLyft CEO Logan Green (left) and John Zimmer co-founded the ride-hailing startup, which could go public as soon as April.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/lyft">Lyft</a> publicly filed its S-1 on Friday, kicking off the final sprint of the IPO process, which could see the ride-hailing startup go public as soon as April.</li><li>Lyft will list on the NASDAQ under the ticker symbol LYFT, according to the S-1.</li><li>Lyft also shared updated financials. The company saw $2.15 billion in revenue in fiscal 2018, according to the filing.</li></ul>Lyft publicly <a href="https://www.sec.gov/Archives/edgar/data/1759509/000119312519059849/d633517ds1.htm">filed its IPO registration Friday</a>, kicking off what could be a record-setting year for multi-billion dollar private tech companies hitting the public markets.Lyft didn't disclose in its filing at what price it plans to list. The <a href="https://www.businessinsider.com/category/ride-hailing">ride-hailing service</a> was last valued at $15 billion in a 2018 funding round, though the company is reportedly eyeing a valuation between $20 billion and $25 billion when it IPOs. When it goes public, Lyft will list on the NASDAQ under the ticker simple LYFT, according to the S-1. The company is working with JP Morgan, Credit Suisse and Jefferies as lead bankers on the public offering, which is expected to take place in early April.Lyft plans to meet with potential investors in what's known as a "roadshow" on March 18, according to <a href="https://www.reuters.com/article/us-uber-ipo/uber-lyft-to-offer-drivers-shares-in-stock-market-listing-wsj-idUSKCN1QH1S6">multiple reports</a>. The roadshow is reportedly expected to last around two weeks. After that, the official timing of Lyft's IPO is up to its team and how the greater markets perform.This timing puts Lyft ahead of its ride-hailing rival Uber, which is expected to go public later this year in an IPO that could reportedly value the company as high as $120 billion.<h2>Lyft's financials</h2>In its S-1, Lyft disclosed for the first time financials which shed light on its performance. The company saw $2.15 billion in revenue in fiscal 2018, up from $1.06 billion in 2017.Like many tech unicorns, Lyft still isn't profitable. The company lost $911.3 million in 2018, up from losses of $688.3 million in 2017, and $682.8 million in 2016.The company also disclosed details of a new plan to put stock into the hands of its drivers, who did not previously receive equity in the company due to their status as contractors instead of full-time employees. The plan, <a href="https://www.businessinsider.com/lyft-uber-drivers-stock-ipo-price-2019-2">reported in The Wall Street Journal on Thursday</a>, gives $1,000 to drivers who have logged 10,000 rides on its platform, and $10,000 to drivers who racked up 20,000 rides. It's up to the drivers whether they keep the money or use it to buy shares at the company's IPO price.Read more: <a href="https://www.businessinsider.com/alphabet-bets-uber-and-lyft-ipo-2019-1">2 dealmakers named David: Uber's and Lyft's expected IPOs will trigger competition at Google's in-house VC firms</a>This story is developing. Refresh for the latest update. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/apple-dongle-problem-iphone-issues-everything-wrong-2019-2">Why Apple's dongle problem isn't getting any better</a></h3> <div> </div> </div>

Lyft kicks off 2019 unicorn IPO spree with public S-1

<a href="https://www.businessinsider.com/category/leaders-by-day"></a><div type="image" title="kahoot_042 1_background" height="2648" width="3531" msid="80792826" hostid="261"></div><ul class="summary-list"><li>Learning platform <keyword id="10101439" type="UNKNOWN" weightage="60" keywordseo="kahoot">Kahoot</keyword>! is rapidly growing. </li><li>Because of this, CEO Eilert Hanoa often has to make quick decisions. </li><li>Hanoa shared his best advice on leading a company in growth mode with Insider. </li></ul>Eilert Giertsen Hanoa, CEO of Norwegian quiz and learning platform Kahoot!, thinks you should "never waste a good crisis." <a href="https://www.washingtonpost.com/opinions/2020/03/25/lets-make-sure-this-crisis-doesnt-go-waste/">That saying comes from Rahm Emanuel</a>, former chief of staff to President Barack Obama from 2009-2010, at a time when the US was in the depths of the Great Recession of 2007-2009. It's the idea that crises can actually present learning opportunities for those who choose to seek them out. It's a mindset that's help him lead Kahoot! through challenging times. "I think there is something to it," Hanoa told Insider. "What can be seen as a challenge or a hurdle that you are not able to overcome might also help you sharpen your thinking and challenge you or your beliefs."Hanoa tries to live by this <keyword id="34454" type="ORGANIZATION" weightage="60" keywordseo="leadership">leadership</keyword> principle as he steers a growing Kahoot! through uncertain times. The company, which is a browser-based educational technology that provides multiple-choice quizzes, experienced a surge in popularity during the pandemic. Kahoot is listed on the Euronext Growth in Oslo, but is considering a dual listing in the US, <a href="https://www.bloomberg.com/news/articles/2021-01-20/kahoot-weighs-u-s-listing-to-ride-boom-in-educational-games">Bloomberg reported</a>. The company currently has a market cap of <a href="https://markets.businessinsider.com/stocks/khotf-stock">over $5 billion</a> as of February 3. The company's revenue hit $17 million in Q4 of 2020, up 230% from the same quarter in 2019, <a href="https://kahoot.com/investor/announcements/kahoot-as-trading-update-q4-2020/">according to its financial results.</a>The company continues to expand its offerings with Zoom and Bitmoji integrations, new free and premium tools for school and work use, and its<a href="https://languagedrops.com/kahoot"> recent acquisition of language learning platform Drops.</a> Leading a company through such a critical period of growth can be daunting, but Hanoa said it has been a good opportunity for him and the rest of the company to learn and grow. Along the way, he's relied on a couple crucial strategies to steer the company.<h2>Compete with tomorrow </h2>Hanoa is always looking for new ways to push his team to accomplish even more.That involves getting out of your comfort zone and questioning your own beliefs. In Hanoa's words, that means "competing with tomorrow," or engaging in a form of competition with yourself to make sure you're constantly improving. "That's the mindset that forces you to come out of the comfort zone and really challenge your own beliefs," he said. "What was good enough yesterday is not good enough tomorrow. How can we get there? What do we need to do differently to get there?"Your biggest competitor, Hanoa said, needs to be yourself. That's why he encourages his team members to share new ideas and listen to new proposals, whether they come from a new junior hire or a senior advisor. In fact, he said that having a constant flow of fresh talent helps bring in new worldviews and ideas for improvement. When faced with new ideas, Hanoa said leaders need to have "less pride in the origin of the idea and more pride in making it work." <h2>'Hurry slowly' </h2>It's important to take careful considerations when a new idea is presented to you. But you'll often have to act quickly. Balance swift decisions with deliberate reasoning, Hanoa said. It's a lesson he learned from his father, a neurosurgeon who gave Hanoa the advice to "hurry slowly." In his father's line of work, it's necessary to work quickly, but a rash decision could cost patients their lives. That's why it's important to find a balance. "You want to be eager, passionate, and forward-leaning, but at the same time with quality and doing it right," Hanoa said, adding that he is "constantly evaluating and making sure that we have quality in every single step on the way to deliver that at the end." Even at times of high growth, Hanoa makes a point to reflect on company decisions before moving forward to make sure that each project is properly executed. He doesn't think of it as lost time, but instead as a necessary measure to make sure he's doing things right. "Never underestimate the time it takes to build something solid," Hanoa said. "Sometimes you have to say, 'Let's take a half a step back to really evaluate this.'"

The leadership strategy the CEO of a $5 billion virtual learning company uses to make quick decisions

Welcome to <a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">Business Insider</a>'<a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">s daily healthcare newsletter</a>, your daily dose of pharma, biotech, and <keyword id="6354525" type="UNKNOWN" weightage="100" keywordseo="healthcare">healthcare</keyword> news. <a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">Subscribe here to get this newsletter in your inbox every weekday.</a>Hello,Today in healthcare news: <a href="https://www.businessinsider.com/rbcs-top-6-digital-health-stocks-to-buy-in-2021-1">RBC's top digital health picks for 2021</a>, <a href="https://www.businessinsider.com/billion-dollar-startups-that-are-revolutionizing-healthcare-2021-1">the 26 healthcare and biotech unicorns to keep an eye on</a>, and <a href="https://www.businessinsider.com/how-to-get-covid-vaccine-without-skipping-line-reporter-experience-2021-1">one reporter's account of how she was offered a COVID-19 vaccine even though she's young and healthy</a>. <a href="https://www.businessinsider.com/rbcs-top-6-digital-health-stocks-to-buy-in-2021-1"><div type="image" title="Telemedicine Digital Health Virtual Doctor Visit" height="1998" width="2664" msid="80235582" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/rbcs-top-6-digital-health-stocks-to-buy-in-2021-1">RBC shared its top 6 digital health picks for 2021 as Wall Street anticipates accelerated growth for the industry</a></h3><ul><li><keyword id="139623" type="COMPANY" weightage="60" keywordseo="RBC-Capital-Markets">RBC Capital Markets</keyword> released its outlook on <keyword id="2147060" type="PERSON" weightage="60" keywordseo="digital-health">digital health</keyword> and healthcare information technology on January 6, predicting the industry's continued growth in 2021.</li><li>Compared to traditional tech, digital health and healthcare IT stocks trade at a significant discount, the analysts noted, but increased in value in 2020 as healthcare shifted online due to the pandemic.</li><li><a href="https://www.businessinsider.com/rbcs-top-6-digital-health-stocks-to-buy-in-2021-1">Analyst Sean Dodge predicts accelerated venture funding and going-public activity as the US healthcare system more fully adopts telemedicine.</a></li></ul><a href="https://www.businessinsider.com/rbcs-top-6-digital-health-stocks-to-buy-in-2021-1">Read the full story by Patricia Kelly Yeo here&gt;&gt;</a><h3><a href="https://www.businessinsider.com/billion-dollar-startups-that-are-revolutionizing-healthcare-2021-1"><div type="image" title="TempusLab_2018_2" height="2425" width="3234" msid="80235585" hostid="261"></div></a></h3><h3><a href="https://www.businessinsider.com/billion-dollar-startups-that-are-revolutionizing-healthcare-2021-1">The 26 billion-dollar startups to watch that are revolutionizing healthcare in 2021</a></h3><ul><li>The financial fallout of the coronavirus pandemic did little to stem interest in healthcare startups. Many new investors flocked to the industry for a recession-proof investment.</li><li>Healthcare startups raised $17 billion in 2020, a 57% increase over 2019's record, according to a new report from Silicon Valley Bank.</li><li><a href="https://www.businessinsider.com/billion-dollar-startups-that-are-revolutionizing-healthcare-2021-1">There are 26 startups that achieved unicorn status in 2020 with valuations at or above $1 billion, according to Pitchbook data and Business Insider's reporting.</a></li></ul><a href="https://www.businessinsider.com/billion-dollar-startups-that-are-revolutionizing-healthcare-2021-1">Read the full list here&gt;&gt;</a><a href="https://www.businessinsider.com/how-to-get-covid-vaccine-without-skipping-line-reporter-experience-2021-1"><div type="image" title="Coronavirus vaccine" height="1333" width="1777" msid="80235587" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/how-to-get-covid-vaccine-without-skipping-line-reporter-experience-2021-1">I was offered a covid vaccine even though I'm young and healthy. Here's how I did it.</a></h3><ul><li>A loophole in the US <keyword id="24209" type="PERSON" weightage="60" keywordseo="vaccine">vaccine</keyword> rollout has made it possible for young and healthy people to get shots without having to skip the line.</li><li>I tried to get one at DC pharmacies, a process that took days and at some point coincided with the attack on the Capitol by violent pro-Trump supporters objecting to the certification of Joe Biden's electoral win.</li><li>The coronavirus vaccine rollout has been slow and messy. And at the end of some days, healthcare facilities are finding themselves with extra doses that have a short shelf life and could end up in the trash.</li><li><a href="https://www.businessinsider.com/how-to-get-covid-vaccine-without-skipping-line-reporter-experience-2021-1">It's one of those leftover doses that I was chasing, but I also wanted to ensure that any elderly or more vulnerable people waiting for them got them first. I learned it was possible, with careful planning and good luck, to get vaccinated early.</a></li></ul><a href="https://www.businessinsider.com/how-to-get-covid-vaccine-without-skipping-line-reporter-experience-2021-1">Read the full story from Kimberly Leonard here&gt;&gt;</a>More stories we're reading:<ul><li><a href="https://www.businessinsider.com/new-york-covid-19-vaccine-trash-unused-doses-2021-1">New York expands its COVID-19 vaccine pool by 3.2 million people after a lack of eligible candidates forced healthcare workers to toss spare doses</a> (Business Insider)</li><li><a href="https://www.statnews.com/2021/01/11/eli-lilly-says-drug-slowed-alzheimers-decline-in-preliminary-study/">Eli Lilly says its experimental Alzheimer's medicine appeared to slow decline in a small study of 272 patients</a> (Stat News) </li><li><a href="https://www.businessinsider.com/when-should-people-who-got-covid-get-vaccine-2021-1">When should people who've already gotten COVID-19 get the vaccine? Doctors say it depends on whether they still have symptoms.</a> (Business Insider)</li><li><a href="https://www.politico.com/news/2021/01/11/biden-coronavirus-vaccine-goal-problems-457245">Biden has been critical of his COVID-19 team as it prepares to carry out on its promise of 100 million vaccines in 100 days</a> (Politico)</li></ul>- Lydia

RBC lays out its top digital health stock picks

<ul class="summary-list"><li><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword> minted four used-car unicorns between November 2020 and November 2021.</li><li>A growing middle class and the rise of the millennial generation is driving the sector's growth.</li></ul>Ram Goswami bought a five-year-old Nissan Terrano last year after getting rid of his sedan. He'd owned the sedan for over a decade, but increasing maintenance costs and repairs started to pinch Goswami's pockets. The marketing professional, who's based in Delhi, purchased the SUV for ₹350,000 ($4,662) — less than half its market price."I preferred a used car over a new car since I'm getting a good deal," Goswami, 37, told Insider."If someone has enough money and doesn't need a loan, then he can go for a new car. But <keyword id="11939507" type="UNKNOWN" weightage="60" keywordseo="used-cars" source="Orion">used cars</keyword> are a blessing for people like me," Goswami added.Niroop Rajan, a techie from Bangalore, picked up a 10-year-old BMW luxury sedan last year for ₹700,000 ($9,318). It's his first car, and for him, owning a car is a status symbol."The emotion I felt from driving my parents in my car for the first time was overwhelming. It doesn't matter if it's a used one. I was overjoyed," Rajan, 31, said.While the two millennials live two thousand kilometers apart, Goswami and Rajan are part of a massive churn in India's automobile industry. Both Goswami and Rajan purchased used cars – a rapidly growing segment in India powered by digital disruption, newfound love from millennials, a buffet of financial options, and pandemic travel restrictions.<h2>Four new used-car unicorns</h2>It's a good time to be a used-car startup in India.For every new car sold in the country last year, about 1.4 used cars were sold, up from <a href="http://www.indianbluebook.com/storage/app/media/Insights/India-Pre-Owned-Car-Market-Report-3rd-Edition-2019.pdf">1.2 before the pandemic.</a>Between November 2020 and November 2021, four India-based startups that exclusively sell used cars became unicorns (startups valued at $1 billion or more) and minted a record amount of investment. India is home to about 80 unicorns total.The four startups – Cars24, Droom, Spinny, and CarDekho – raised over $1.5 billion total from global marquee investors. That's more than what these platforms raised in the previous five years put together, figures from their valuation announcements show.Market leader Cars24 saw its valuation nearly double within three months late last year. In September, it was valued at $1.84 billion; the latest funding round in December put the valuation at $3.3 billion. The company is expanding its global footprint with new branches in Australia and the UAE, and it's <a href="https://www.exchange4media.com/marketing-news/cars24-announces-international-expansion-now-operational-in-uae-australia-113641.html">eyeing the Southeast Asian market.</a> Those pouring the money include New York-based investment firm <a href="https://www.spinny.com/about-us/">Tiger Global,</a> American giant <a href="https://india.sequoiacap.com/india/companies/cars24/">Sequoia Capital</a>, <a href="https://economictimes.indiatimes.com/tech/funding/cardekho-enters-unicorn-club-with-250-million-funding-led-by-leapfrog-investments/articleshow/86973768.cms">LeapFrog Investments</a>, Abu Dhabi-headquartered <a href="https://tracxn.com/d/companies/spinny.com">ADQ</a>, and China-based venture capital firm <a href="https://www.cars24.com/blog/cars24-raisesi-450-million-nearly-doubles-its-valuation-to-1-84-billion/">DST Global.</a> And in December, India's star sportsman Sachin Tendulkar <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/sachin-tendulkar-invests-in-used-car-platform-spinny/88276324">invested an undisclosed amount </a>in Spinny.<h2>The pandemic and millennials are behind the change</h2>The pre-owned car market started to outpace the new car market during the pandemic. The poor economic situation dented the demand for new cars, and the global semiconductor shortage prolonged the waiting period. Public <keyword id="11894924" type="UNKNOWN" weightage="100" keywordseo="transportation" source="Orion">transportation</keyword>, too, has taken a hit. "What happened in the last year during the pandemic is that the way people commute has changed," said Kushal Bhatnagar, an engagement manager at consulting and research firm RedSeer. "During the pandemic era, the usage of [ride-hailing services] Ola and Uber dropped. Shared mobility as a concept declined in India."All these factors have had an unintended spillover on the used car market, providing a jumpstart for startups like Droom, an online-only marketplace that offers fair pricing assessments and digitized vehicle histories.<div type="image" title="Droom CEO Sandeep Aggarwal" height="2661" width="3547" msid="90288740" hostid="261"></div>Droom CEO Sandeep Aggarwal said the growth in India's used-car market is driven by the country's growing middle class and the rise of a young population armed with disposable income."We get about 16 million monthly user traffic and about 75% of them come from millennials," Aggarwal told Insider. Indeed, millennials make up 80% of the buyer base for used cars, one <a href="https://www.motownindia.com/Bureau/Auto-Industry/3192/Millennials-Gen-Z-appetite-for-used-cars-on-the-rise-Cars24-Ipsos-Report-Motown-India-Bureau">industry research</a> found.The CEO added that the demand for used cars in India is reflective of a change in generational mentality."'My father had a scooter. After working for 25 years, he bought his first car at the end of his career. I don't want that. I want a car now,' is what a millennial thinks," Aggarwal said. "This aspirational value has been embedded in the generation of Indian millennials."<div type="image" title="Motorbikes and scooters lined up in India." height="2448" width="3264" msid="90288741" hostid="261"></div>The type of demand in the market is also shifting, two industry insiders said."Often what we see is someone will prefer a four-year-old gently used BMW for 1.2 million rupees ($16,000) to a brand new Honda city for the same amount," Aggarwal said."A lot of people who owned two-wheelers now want a car for their family and their obvious choice is a used one. The age group driving this growth is between 30 and 35," echoed Anurag Jain, the cofounder of CarDekho.<h2>Moving towards a focus on the user</h2>With an estimated <a href="https://redseer.com/newsletters/indias-used-car-market-is-unstoppable-with-its-steady-and-tech-driven-growth/">30,000 brick-and-mortar dealers</a> across the country, India's used-car market is a highly fragmented area dominated by mom-and-pop operations. Until about five years ago, most used-car services were seller-centric listing services. The segment was riddled with untrustworthy agents and cumbersome paperwork.But this is slowly changing. The segment is moving towards user experience-focused systems and buyer-focused business models.Consider CarDekho, a 14-year-old company that hit unicorn status in October. The marketplace offers end-to-end services such as doorstep pickup, financing options, insurance, post-service warranty, and long-term maintenance packages."In India, it will not be a pure-play digital transaction where one book and get the car delivered to home. Most of India will be O-to-O (online-to-offline), a blend of the digital and offline marketplace," Jain told Insider.<div type="image" title="A used car lot in India" height="1908" width="2544" msid="90288743" hostid="261"></div><h2>The road ahead</h2>While the demand for pre-owned cars <a href="https://www.ft.com/content/6617dc19-6302-42b6-9c98-94faecb0dd8c">has soared across the world</a>, India is a hugely under-penetrated market. Only <a href="https://www.census2011.co.in/hhassets.php">about 4% of households</a> in the country own a car.Globally, China leads the used-car market with 21.4 million units sold in 2019, per <a href="https://redseer.com/newsletters/indias-used-car-market-is-unstoppable-with-its-steady-and-tech-driven-growth/">RedSeer</a>. The US follows in second place with 17.5 million used cars sold in 2019. India is in fifth, with 4.4 million units sold.The country's automotive industry is expected to be worth $300 billion by 2026, per an <a href="https://www.ibef.org/industry/automobiles-presentation">estimate</a> from government-backed think tank India Brand Equity Foundation. The business of pre-owned vehicles stands to play a key role in this growth. From the 4.4 million used cars purchased in 2021, numbers are expected to almost double in five years, per <a href="https://redseer.com/newsletters/indias-used-car-market-is-unstoppable-with-its-steady-and-tech-driven-growth/">RedSeer's forecast</a>.For now, India's used-car unicorns are aggressively adding more manpower and markets to capitalize on opportunities. Droom and CarDekho are eyeing a public listing in the coming months."If we look at the large economies like the US, Western Europe or Japan, we're talking about 70%+ adoption of cars," said Droom's Aggarwal. "In India, the motorization adoption is set to grow from 22 cars per 1000 people to 200 cars per 1000 people in three decades."

How millennials and the pandemic are powering India's used-car market, where 4 startups hit unicorn status in one year

<ul class="summary-list"><li>Equity Crowdfunding used to be a last resort for startups looking to raise capital.</li><li>Game-changing new SEC regulations is make crowdfunding safer for both startups and investors.</li></ul>After Immad Akhund, the CEO and founder of banking <keyword id="11897892" type="UNKNOWN" weightage="100" keywordseo="startup" source="Orion">startup</keyword> Mercury, secured $120 million Series B from top-name venture capitalists at a $1.6 billion valuation, he made a relatively unheard-of move: he let retail investors buy $5 million worth of shares through the crowdfunding platform Wefunder. By doing so, the San Francisco-based startup became the highest valued company to launch an equity crowdfunding campaign, an alternative fundraising route where a large group of investors can fund startups similar to raising money for gadgets on Kickstarter.Mercury's move to raise capital through equity crowdfunding was considered unusual by many observers because the tactic had previously been considered a last resort for founders who couldn't raise money elsewhere. "Crowdfunding had a bit of a bad vibe," Akhund said. But then on March 15, new U.S. Securities and Exchange Commission crowdfunding regulations went into effect, turning the black sheep of the investing world into a viable option for companies of all sorts to raise capital from individual investors. As a result of these regulations, equity crowdfunding has boomed over the past several months, with an increasing number of startups raising money through platforms like Wefunder and StartEngine. In doing so, equity crowdfunding has realized a mission of not only allowing startups to raise capital from a larger pool of investors beyond venture capitalists, but also giving customers and supporters a chance to buy shares in their favorite new companies. In several weeks on Wefunder, Mercury raised $22.6 million from more than 3,000 individual investors. Two-thirds of Mercury's investors, according to the company, were also customers. Legally, even with the new regulations, the company will have to return a majority of the capital it raised through the platform, but according to Akhund the stunt showed the incredible enthusiasm for equity crowdfunding.His motivation to go the crowdfunding route wasn't because he needed the money or clout. After all, the Series B was led by Coatue, with participation from Andreessen Horowitz, CRV, and Sapphire Ventures. He did it to spread the wealth. "We really want our existing customers to have ownership in our success because they're the reason we are successful," he said, adding that before the rule change that would have been "pretty infeasible." Mercury's campaign was so well received, Akhund said, he has entrepreneurs regularly emailing him, "How did you do the crowdfund and how do we do it ourselves?" The growing popularity of equity crowdfunding is an impressive turnaround for the bad reputation that had plagued crowdfunding since its birth in 2012. According to Nick Tommarello, CEO and co-founder of Wefunder, startup founders and investors often complained that fundraising was capped at $1 million and that having to deal with hundreds, if not thousands, of individual investors was not only an administrative nightmare but could trigger an SEC rule forcing a company to go public. "This led to a perception of adverse selection, where if you're on Wefunder it means that no real investor would invest in you - therefore you must be bad," Tommarello said. "I think that the stigma has only changed this year."Among the new rules, the SEC increased the limit a company can raise from $1 million to $5 million; allowed companies to clean their books by listing capital raised through equity crowdfunding as a single entity rather than thousands of small individual investors; allowed founders to test the waters by offering reservations for equity before having to do compliance work. After the rules went into effect, Wefunder's investing volume skyrocketed from $3-4 million dollars a month to $25 million a month. StartEngine, a crowdfunding platform that counts SharkTank's Kevin O'Leary as one of its spokespeople, generated $13.3 million in the first six months of this year - more revenue than it made in all of 2020. Chai Mishra, founder and CEO of Move - a Bay Area-based membership e-commerce startup and Y Combinator alum that has been described as Costco-meets-Trader-Joe's online - said the name equity crowdfunding is "terrible branding." To Mishra, who has been crowdfunding since 2019 it is more than just raising capital. "I would say $1 raised in equity crowdfunding is worth at least $3 to $4 raised in VC for an early-stage company," he said. For Mishra, crowdfunding is a marketing tool that can lead to acquiring new customers and recruiting new employees. With new favorable regulations, he anticipates his crowdfunding campaign reaching a bigger audience. But equity crowdfunding still isn't without its risks and headaches for startups and investors alike. Founders still must disclose finances and communicate with a large pool of often amateur investors. For the investors, crowdfunding can be much riskier than the stock markets, too. But for investors like Angela Joseph, an independent movie producer and publicist, the risk is worth the reward. Joseph invested several hundred dollars in Legion M, a fan-owned entertainment company funding movies and television shows, because she says she believed in its mission. "You're not going to get rich, but I am not in it for that, I am in it for the passion," she said. "It's way more fun than investing in the stock market."Before 2016, regular investors like Joseph weren't allowed to invest in private companies at all. That was reserved only for wealthy individuals with a high income or net worth. Now as investing in private companies becomes more accessible to the masses, proponents expect higher quality startups and more unicorns like Mercury offering regular people a slice of their pie. "We're just at the start of crowdfunding being much more significant," Akhund said.

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