Economy, Auto

Snapp, Iran’s First Unicorn Startup?

Snapp, Iran’s First Unicorn Startup?
Snapp, Iran’s First Unicorn Startup?

The widely used ride-hailing application Snapp will pursue new business opportunities by merging its program with hotel reservation apps and collaborating with Irancell to unveil a SnappPay software. The firm already offers food and package delivery services. Shahram Shahkar, the fast-growing company’s administrative manager, claimed Snapp will soon become Iran’s very first unicorn startup, reported ICTNA. A unicorn is a startup valued at over $1 billion. The term was coined in 2013, the name of the mythical creature chosen to represent the statistical rarity of such successful ventures. Shahkar made this bold comment during the Silk Road Startup Conference held in Kish on April 18 and 19. According to the website CB Insights—a platform for tracking private companies’ finances—there are currently 234 unicorn companies around the globe. Snapp is closely following Uber’s steps, a unicorn company, which also has a food delivery service.


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