Ending The Year On A High
As of December 24th, 43 Indian startups had joined the Unicorn club in 2021!!
We frankly didn't expect any more to be minted in the last week but hey 2021 was the year of the Indian unicorn.
GlobalBees joined the club to make it 44 unicorns.
They raised about $110 million and are now valued at $1.1 billion.
One of the desi Thrasio's
GlobalBees is one of the desi versions of Thrasio we have here.
The idea is quite clever.
They acquire small online-first brands that sell primarily through Amazon/Flipkart. These are brands that have grown to a decent level but are finding it difficult to scale further and/or the founders want an exit.
As we said GlobalBees is one of the desi Thrasios we have - and that's because we already have 10club, Mensa Brands and GOAT Brand Labs all going after the same idea.
Mensa Brands is already a unicorn and don't be surprised if the other 2 also join the club soon.
GlobalBees has been partnering with online brands across categories such as beauty, personal care, home and kitchen, food and nutrition, and sports and lifestyle.
So far they are looking at brands with a revenue rate of $1 million to $20 million.
We didn't get the exact deets about how many brands they've already acquired but it seems like they are in different stages of talks to acquire at least 30+ brands.
Anyway a great end to the year for our startups. Do you think we'll create more or less than 44 unicorns in 2022?