In the financial year 2022, the Indian e-commerce startup, WOW Skin Science spent over ** percent of its operating revenue on advertising and marketing which was the highest ad spend-to-revenue ratio among the surveyed soonicorns. On the other hand, although boAt had the highest revenue among all the soonicorns its ad spending-to-revenue share was negligible.
As the term suggests, soonicorns are start-ups that are soon to become unicorns. While unicorns have a value of over *** billion U.S. dollars, a soonicorn is in the process of achieving a one-billion asset valuation.
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Inc42. (April 6, 2023). Advertising expenditure of e-commerce soonicorn as a share of operations revenue in India in financial year 2022 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 30, 2026, from /statistics/1405497/india-ad-spend-of-e-commerce-soonicorns-as-a-share-of-operations-revenue/
Inc42. "Advertising expenditure of e-commerce soonicorn as a share of operations revenue in India in financial year 2022." Chart. April 6, 2023. ÌÇÐÄÆƽâ°æ. Accessed July 30, 2026. /statistics/1405497/india-ad-spend-of-e-commerce-soonicorns-as-a-share-of-operations-revenue/
Inc42. (2023). Advertising expenditure of e-commerce soonicorn as a share of operations revenue in India in financial year 2022. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 30, 2026. /statistics/1405497/india-ad-spend-of-e-commerce-soonicorns-as-a-share-of-operations-revenue/
Inc42. "Advertising Expenditure of E-commerce Soonicorn as a Share of Operations Revenue in India in Financial Year 2022." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 6 Apr 2023, /statistics/1405497/india-ad-spend-of-e-commerce-soonicorns-as-a-share-of-operations-revenue/
Inc42, Advertising expenditure of e-commerce soonicorn as a share of operations revenue in India in financial year 2022 ÌÇÐÄÆƽâ°æ, /statistics/1405497/india-ad-spend-of-e-commerce-soonicorns-as-a-share-of-operations-revenue/ (last visited July 30, 2026)
Advertising expenditure of e-commerce soonicorn as a share of operations revenue in India in financial year 2022 [Graph], Inc42, April 6, 2023. [Online]. Available: /statistics/1405497/india-ad-spend-of-e-commerce-soonicorns-as-a-share-of-operations-revenue/
