ASSESSMENT
Every year thousands of startups come to market. Out of all, a few become the successful startup of the year while others need to shut their doors. Some of them come out as industry leaders wherein some are bound to their limits.
Many of the companies with their innovative products, extraordinary services, efficient operations, and strong Marketing have made people use their services a number of times. To give you a clearer vision, let us go through a few real-time statistics.
So, these are some of the figures on the startups. So you have an idea for the startup but yet confused about it? Then, here are a few most inspired startups you can have a look at.
Netflix is the biggest online video streaming with the highest downloads across the globe. It started approximately 20 years ago. Netflix’s business model is so constructive that its success is skyrocketing today. Users need to buy the subscription of Netflix to use their services. The enormous services offered by Netflix cover popular movies, web series, documentaries, and much more which is available in various video qualities like SD, HD, Ultra HD. The new sign-ups can even avail of the 30-day free trial before paying the subscription.
As per the 2020 reports, Netflix has more than 200 million subscribers worldwide. The annual revenue of Netflix has reached approximately $20.5 billion. People these days are so fond of watching web series and movies and Netflix makes sure to give the best entertainment to their users. Netflix has an alliance with Xbox, PlayStation, Wii, LG, and many more. It has even partnered with many TV companies like Dish, Tivo, and more.
It is one of the most successful online taxi booking startups across the globe. Uber brought a revolution in the taxi industry after its launch. People find it more comfortable to book a taxi through an app like Uber rather than the traditional thing of going in search of a taxi. The global market value of Uber is approximately $72 billion with more than 40% of the market share in the taxi industry.
And this is the reason why many entrepreneurs across the globe are investing in the online taxi booking industry. Most of them follow the same business model as that of Uber looking at its success. The working of Uber is quite simple. The passenger needs to request the ride by entering their pickup and drop location. The closest driver will get the notification to accept the ride. Once the ride gets completed users can give them feedback. Users are enabled to make the payment either online or cash.
On-demand vacation rental business-like Airbnb has revolutionized the way people travel these days. Airbnb works in more than 81000 cities in approximately 220 countries. Airbnb is valued at $31 billion by now. It was founded by Brian Chesky, Joe Gebbia, and Nathan Blecharczyk. The amount of funds received by Airbnb is $5.8 billion.
It is a platform wherein the hosts (property owners) and travelers meet and book their spaces. Hosts can list out the free space of their homes on the Airbnb platform with all the needed details. Voyagers can go through these listings with the help of advanced filters and book a stay that is suitable to them. The host and traveler can use an in-app chat option if they have any doubts. The voyagers can have a completely different experience by staying with locals and even save a few bucks from the trip. Airbnb even has its own photographers who go to the local stays and click high dimension pictures so that travelers can have an idea about the place they are going to stay.
Snapchat is the most popular social media startup worldwide. It is one of the most favorite social media messaging apps among the tweens. The main reason for the popularity of security that comes with this platform. It is the most secure social media platform across all available in the market. It has more than 250 million active users and most of them are the tweens.
The working is Snapchat is easy, all you need to do here is sign up and you are into the platform. Once you’ve signed up, you can send a request to your friends. The best thing about Snapchat your friends can only view the message you sent to them only once. The thing which attracts users to it is their appealing filters which keep on changing with the trends, season, and festivals. Snapchat even offers the group texts and group stories that make it more interesting. Above all, Snapchat comes with the Snap Maps where you can see the exact location of your friends.
It is an amazing social network platform that lets the users share their interests and even discover the new trends in almost every field. It is a really good platform for all those who want to explore their skills in various fields. The main goal of Pinterest is connecting the whole world through the things they find interesting. Here users can either upload their arts on the platform or just pin the interesting videos or images they find.
The market capitalization of Pinterest is approximately $14 billion. It has more than 295 million monthly users who bookmark the images they find interesting. Pinterest generates revenue from advertising on its platforms. The fact to note here is 80% of the Pinterest users are women. The main reason for it is Pinterest started with things like lifestyle, makeup, fashion, cooking, and much more. All these things attract more women to their platform. It is one of the best startups and social media platforms popular across the world.
The biggest competitor of Uber is Lyft. It is one of the biggest taxi booking platforms after Uber. Lyft has managed to raise the fund of $4.5 billion in its 20 funding rounds. The users can search for the taxi through the app and the nearest driver will get the notification for the ride. Riders have an option to select the ride in the three options that are Lyft, Lyft Lux, and Shared Saver. The price may vary based on the mode of ride you select.
Lyft works in Canada and the US and mainly targets the domestic market. The company mainly focuses on carpooling services, on-demand taxi booking, and even self-driving for the last-mile drive. Lyft has even collaborated with autonomous vehicle providers. The annual revenue of Lyft is $2179 million as per the reports of 2019. Lyft will take a commission of around 20% on every booking and rest will be given to the drivers. One thing to note that Lyfy and Uber both are startups in the taxi booking industry but they have a different business model.
Back in 2010, Gojek started as a call center who connects the customers to the courier delivery. By now Gojek offers services like GoMart, GoSend, GoRide, and more. It is the first unicorn company in Indonesia and has more than 3000 employees working across the globe. It is estimated that Gojek will hit a valuation of $25 billion by 2025. At present, Gojek is worth $5 billion.
The working of Gojek is like consumers can search for the services they are interested in. Further can book the services and are given an option to either pay online or cash on delivery as per their choice. But the price for the cash payment will be higher than that of the online payment to avoid the false orders. The revenue model of Gojek is likely to earn the commission from the merchants registered with the Gojek platform. And even the service charges are applied to the consumers for using the platform to get their services.
This on-demand grocery delivery app is ruling over the grocery delivery companies for years. Instacart is a brainchild of Apoorva Mehta, a former employee of Amazon. Looking at the stable and extraordinary business model of the Instacart, in the last funding round, it raised $600 million. Around 85% of the US and 60% of the Canadians depend on Instacart for their groceries.
Instacart is a marketplace platform wherein the vendors and customers meet. Vendors can register themselves with the Instacart and list out their products. Customers can buy products with easy listings and checkouts. Whenever a customer buys a product, the driver will get the notification. Later the driver will go to the vendor’s shop, collect the product, and deliver it at the customer’s place. The vendors need to pay the decided percentage of the commission to Instacart. With that, Instart even earns the delivery fees on every delivery of the product.
On-demand businesses like TaskRabbit are running at a great pace. It is a peer-to-peer marketplace that offers services that can aid users with routine tasks. Whether it is home cleaning or heavy lifting, everything comes under TaskRabbit. It has made life easier for people, especially the ones who stay alone.
In the first funding round, TaskRabbit received $1.8 million and that when they hired their first employee. Taskrabbit was born with a thought like neighbors helping neighbors. With passing years it is known to be the most unique and successful startup. The working of TaskRabbit goes like task givers(customers) need to login and then select the service they are interested in. The taskers will get the notification on the customer’s request for the service. One the task gets completed the task givers can leave feedback on the platform. The estimated revenue of TaskRabbit is more than $25 million.
In inspiring startup businesses, the gaming industry is no more behind. The biggest example of it is the popularity of the Angry Birds game. The development of this game began just with a simple screenshot of an unhappy bird character. It was launched in 2009 by Rovio Entertainment. The net worth of Angry Bird is more than $210 million as of 2019 reports.
It has over 50 million downloads and more than 200 million minutes of the game is played each day. Angry Birds and its sequel Angry Birds two has become one of the most popular and addictive games among every youth. The app store name, logo and description is what can make or break the game. Angry Bird’s logo is so attractive that people would download it instantly.
To make your startup successful, you need to first deeply research the marketing trends and future predictions. Then choose an industry which suits you best. The only thing that can make your startup successful is its uniqueness. Look at the issues faced by the users and provide a solution for it. This will help you to make your app popular among the users. Good user experience is what keeps your app successful for a longer period. Thus when building your startup never compromise with user experience. That’s what can help you to have a popular as well as a successful startup.
That’s all on the various inspiring startups you can follow for your business. The planning and execution of the startups are the most crucial parts which decide the success or failure of the startup.
I would recommend you to have a deep research on the industry you want to go for and have a look at how the successful startup managed to reach it. Have a look at the challenges faced by them and make sure to take care of the same thing in your startup too.
So, would you like to venture on the points of our article?
