Since startups began in Indonesia, the term “unicorn” has become widely used. However, it doesn't refer to the mythical horned horse, the unicorn; it means a startup valued at more than $1 billion. There are also decacorns, whose value exceeds $10 billion. The highest-ranked are called hectocorns, which was the highest on the list.

What is a Hectocorn?

Unicorns are startups valued at $1 billion, while decacorns are valued at $10 billion or more. The rare among them are the hectocorns: privately owned startups worth $100 billion or more. The term hectocorn comes from the Greek root word ‘hecto’, which roughly means one hundred.

The term hectocorn became part of startups just over a year ago, as private companies started getting investment.startups such as Canva, Brex, and Wise quickly increased their valuations, becoming more worth over $10 billion, some of the well-established decacorns, such as SpaceX, ByteDance, Shein, skyrocketed, etc.

Explore more term regading to compnay valudation and name use for like Minicorn, Soonicorn, Unicorn, Decacorn 

Which Was The First Hectocorn Company?

In May 2020, TikTok parent company Bytedance reached hectoring status after a private equity transaction valued it at $100 billion.

Hectocorn Companies in India

Currently, there is no Hectocorn in India, but there are some companies which are on the path of hectocorn.

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• ola Electric (Valuation: ~$6–8 billion)
• Swiggy (Valuation: ~$10–12 billion)

List of Hectocorn Companies

Bytedance

Founded in 2012 by Zhang Yiming, ByteDance is a leading Chinese internet technology company. It didn't achieve hectocorns status overnight- it grew steadily over the years. Bytedance has received investments from major global firms, which include SoftBank, General Atlantic, Sequoia Capital, Hillhouse, KKR, Source Code Capital, SIG Asia Investment, and many more.

This multinational company provides a wide range of smartphone applications, which include TikTok, Douyin, Lark , Toutiao, and Babe. Additionally, ByteDance owns the prominent game development firm Garena, which is known for creating the popular game Free Fire.

SpaceX

SpaceX has gained global recognition by opening new boundaries in space exploration.It is led by Elon Musk. SpaceX has achieved several groundbreaking milestones, such as the first private company to dock with the International Space Station.

Major of the SpaceX’s revenue is generated through satellite launches for the US military, NASA, and private companies. Apart from this, it has also worked on some futuristic plans like colonising Mars and providing global satellite internet.

Shein

Shein was founded in 2008 by Chris Xu. Its journey started as a dropshipping business before becoming a full online fashion retailer.

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The company offers a wide range of affordable fashion products for men, women, and kids through its website and mobile application. With presence in more than 220 countries, Shein mostly targets a young, price-conscious audience. It is one of the top e-commerce platforms in China.

The company offers a wide range of affordable fashion products for men, women, and kids through its website and mobile application. Shein operates in over 220 countries worldwide. It is a major e-commerce platform in China. Shelin mostly targets young people.

Conclusion - Hectocorn Company

Hectocorn is a startup which is valued at more than $100 billion or more . These companies lead in the technology, innovation, global reach, and market disruption. As of now only a few companies have become hectocorn, Bytedance and SpaceX are one of them.