2020 has been one of the most difficult years for everyone, particularly for the tech startup companies. With plenty of companies being forced out of business, and despite the covid-19 pandemic ravaging the entire world, in some way some startups seem to succeed against all the odds.

In this article, we’ll share with you 5 startups that have done it right. All these companies started as a simple idea and look at what they have been able to achieve today.

Airbnb

Airbnb is a project that you must have heard of already, even if you aren’t interested in entrepreneurship. It’s a fast and convenient service through which visitors can directly rent accommodation from the property owners without being required to contact any agency.

Back in 2014, Airbnb attracted £366.97 million in funding, making it £7.34 billion worth of business. The three founders, Joe Gebbia, Nathan Blecharzik, and Brian Chesky immediately become billionaires.

Today, Airbnb is a leading company in the co-consumption market. The service currently includes 1.5 million homes in over 190 countries. For the few years it has been in operation, Airbnb has served over 11 million people.

Uber

An Internet tax call service that has become increasingly popular over the past few years. Although the company has only been operational for a few years, Uber only became a serious business after receiving a £1.47 billion investment. It’s estimated that Uber’s weekly revenue is about £14.7 million and Travis Kalanik, its founder has been included in various ratings for the wealthiest people across the globe for several years. Although Uber doesn’t really like conventional taxi services, they are very fond of their customers. The online taxi calling service allows customers to find drivers on their own and request the services of those that are free. However, the company isn’t just limited to taxi services. Uber has also made entry into other markets like postal services, courier transportation, food logistics, etc.

NJOY

Back in 2014, this e-cigarette company, which occupies about 30% of the US industry, held several negotiations with renowned businessmen and funds, after which the company was able to attract £51.38 million. NJOY investors include Brookside Capital, Morgan Stanley, ex-Facebook president Shawn Parker, and billionaire Peter Thiel. The organization has been operational because 2006 and the development is largely promoted by the worldwide tightening of the anti-tobacco laws. Nowadays, the market for e-wallets in the United States is predicted at about £1.47 billion.

The distinctiveness of the NJOY project is because of the wide collection of many flavors of electronic tobacco. Fans of the organization have also been praising the distinct design of this cigarette since even non-smoking people don’t want to let it out.

AirGarage

Established back in 2018 by Scott Fitsimones, Jonathon Barki, and Chelsea Border, the San Francisco-based AirGarage is the full stack-parking operator, which helps businesses and churches, manages and rents out their lots. As the full stack-parking operator, this removes hurdles for selling parking so everyone with the underutilized lots might get started. The AirGarage offers a wide range of tools required for enforcement, payment processing and manage user acquisition.

Lyft

In 2014, Lyft successfully got investments in amounts of £183.49 million. This Internet taxi service shows a highly dynamic development than the main competitor uber. Having been founded back in San Francisco back in 2013, the company was able to expand its activities to over 30 US States. Essentially, this resulted in the attention of reliable investors. Founders Fund, Horowitz, Third Point, and Alibaba – the extensive list of Lyft shareholders is pretty impressive.

References

Plummer, R. (2020, April 25). Coronavirus: Five firms booming despite the lockdown. BBC News. https://www.bbc.com/news/business-52383193

Busvine, D. (2020, December 8). Resilient European tech startups near record $41 billion investment, report. U.S. https://www.reuters.com/article/us-tech-europe-idUSKBN28I0KG

Rana, T. B. (2021, August 2). Uber, Lyft seen boosted by return of riders, but driver shortage, stubborn virus cloud outlook. Reuters. https://www.reuters.com/business/autos-transportation/uber-lyft-seen-boosted-by-return-riders-driver-shortage-stubborn-virus-cloud-2021-08-02/

 

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