5 successful startups during the pandemic
The COVID-19 outbreak has had many impacts on our lives, in everything we do. In a broader sense, the economic and social disruption this virus has caused is more than devastating, with people at increased risk of falling into extreme poverty and the number of undernourished people increasing each second. Even with all the current socio-economic challenges that the world is facing right, there is still the mad race for competing with the corporate giants, finding customers, and attracting investors, here’s a list of 5 successful startups that have prevailed in the face of all difficulties!
1. Better.com
Better.com is a homeownership startup based in the U.S. It has seen exceptional growth and performed phenomenally well having grown 3.5x year-over-year and funding over $4 billion in mortgages a month. It dismantled the home-financing ecosystem, replacing it with a digitized process that eliminates commissions, fees, unnecessary steps, and time-wasting appointments.
Better.com has seen demand for refi applications and new loans soar due to the Federal Reserve dropping its interest rate to zero percent. The four-year-old business has employed more than 1,500 employees since March — and plans to bring on another 7,000 workers in the next 12 months.
2. Nykaa
Nykaa is an Indian lifestyle retailer of beauty, wellness, and fashion products that was founded by Falguni Nayar in 2012. The founder revealed that the company is now reaping the benefits of the investments that made them push to become an omnichannel retailer.
It was valued at $1.2 billion in April had secured Rs 100 crore in funding from its existing investor UK-based Steadview Capital as a primary investment, in April this year.
3.DoorDash
DoorDash Inc. is the largest online food ordering and food delivery service based in United States. The San Francisco-based company has a 56% market share in the food delivery category and a 60% market share in the convenience delivery category.
The business in the pandemic has seen explosive demand for its services with sit-down dining banned in much of the country with the company doubling its workforce — for the second time in two years. It has even expanded its service into pharmacy and grocery deliveries.
4.Unacademy
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Unacademy’ is an Indian educational technology company, based in Bangalore, a free app and an amazing online learning platform providing a variety of courses in all fields. Their paid courses – Unacademy plus – have prices ranging from ₹ 1,000 up to ₹ 30,000 where students are given access to recordings of the live sessions, downloadable notes, and other learning material for 2 years as well.
The edtech firm having a network of over 18,000 educators and 350,000 paid subscribers
around Rs 780 crore in February in a funding round led by social media major Facebook and General Atlantic.
5.Brooklinen
When Vicky Fulop checked into a Las Vegas hotel with her husband 7 years ago, she fell in love with the linen sheets. However, shocked to see the sheet costing $800 dollars in the market, the pair decided to start a luxury bedding startup-Brooklinen. Designed by non-textile industry experts with one simple focus being quality in their products, the business sells a variety of bed, bath, loungewear, and decor products on its website brooklinen.com.
The company had nearly $100 million in revenue last year.
