The report by KPMG list the technological companies at US$ 221 million, and in the past decade, as stated by IDB it is found that the numbers went up by 32 times their version in terms of value. The firms that became unicorns (tech based startups with valuation over US$ 1 billion) in the region were also a record last year. In that regard, Argentina comes second — with unicorns like Ual, Tiendanube, Mural, and Vercel — behind Brazil, which has 20 such companies. How unicorns are affecting local economies is clear.
Of companies by three to four years, people altered the way they spend their time and, as a result, the productivity level grew accordingly (McKinsey, n.d.). Argentina had four unicorns since almost a decade, including Despegar, Globant, OLX, and Mercado Libre. The firm created by Marcos Galperin was the first to enter the exclusive circle, and currently, it is not only the most significant firm.
The Role of International Markets in Unicorn Growth
In the region valued at US$ 60 billion and having over 25,000 employees but also one of the most significant e-commerce platforms across the globe, In Argentina, talent and innovation exists, but more challenges also exist. A study by KPMG shows that the total worldwide fintech start up investment has hit 2,861 transactions in 2020 and is worth US$ 105 billion.
Moreover, in the year 2020, venture capital investments around the globe gained 4 percent and reached US$ 300 billion, owing to the industries like healthcare, education, financial and retail, which transferred service provision to the online platform by virtue of the global pandemic. Take, for instance, Mural.
Fueling Unicorn Expansion
Being a unicorn is not what we aspire to be, it is just a term we hear either through the press or in the market. Nevertheless, it is pleasant to hear that so many clients, employees, partners, and members of the worldwide community are fond of our platform, our team, and what we do, says F elix Beccar, VP of Operations and Finance at Mural, and mentions: “Mural now serves over 90 percent of Fortune 100 companies, has more than 800.
Employees working remotely across the world, and has created an entirely new category of visual collaboration in large enterprise. When Globant ended up with the two options in 2007, it was to sell or bet and grow. The partners made the choice of betting and scaling up, and became the example that gives a boost to the entrepreneurial ecosystem since besides that, the young firm established soon after the crisis in 2001 now has Venture Capital programs to finance the technological start-ups. The perfect experiment included the team, cultural transformation and search of solution.
Unicorns and the Global Stage
Of cross-cutting problems. And one of the things which we are always very fond of having before us is a good project.” We already have a new target before trying to move up to the last one. This is what happened to us when Mercado Libre became public and that is when we planned to really invest with Galperin as Martello explains; they sat down to get to know how they could do it themselves as Martello explains further that he found this very motivating and they started working on the process that took them seven years. Among the things 2020 taught, there is resilience.
Which is to respond satisfactorily to -almost- any circumstances. The year 2020, of the Covid-19, became the year in which the society had redefined how, when, and what the path to the working place and the performance of various types of activities would be. In great parts, due to the availability of technological innovators to bring the solutions nearer. In this regard it is possible to mention Ual a and its purpose of serving in the financial inclusion Mural, the so-called digital whiteboard, which was elevated by remote work around the globe, as well as Tiendanube providing access.
Conclusion
To solutions so that any entrepreneur can have his or her online store. They are businesses that meet needs beyond the nation, and that appeals to large investors, says Maria Julia Bearzi, executive director of Endeavor Argentina. These seven selected in the previous year are the seven Vercel, Auth0, Mural, Aleph, Bitfarms, Ualal and Tiendanube. With Mural, the pandemic gave it an access to hundreds of businesses that up to that point had not thought of requiring the service.
Consequently, they have been able to multiply the company size four times, upscale their infrastructure, better their plans and take the company to be evaluated at US$ 2 billion. KPMG reported that an ecosystem of Argentine unicorns is worth US$ 100 billion. In addition to this, both tech-hearted and scientific companies have more than 245 thousand employments in Latin America. Such a company forms the core of the knowledge economy and forms an ecosystem of innovation upon which a lot of business is built. The growth enables them to be productive and provide quality employment across industries.
