India, Aug. 16 -- Astrotalk pulled off something unique this week. It became India's 133rd unicorn but in the process, it didn't raise any new funds or see any new investors join the cap table.

In fact, the $1 Bn valuation came out of an ESOP buyback after the company bought shares back from its employees. That resulted in some wealth creation for the employees who held those shares, and the transaction did happen at a $1 Bn+ valuation, but this is still a rarity in the startup ecosystem.

Even more so, because it is a number that the company has arrived at internally, at a time when it is preparing to raise from public market investors and set off on the IPO course. We know how public markets have been brutal on startup valuations, but ...