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Tips - September 28, 2022

5 Big Startup Success Stories that Simply Can’t Be Replicated

The world has seen some highly successful startup stories that have redefined how much revenue can be generated. Take Byte Dance, for instance, the Chinese internet tech giant is valued at about $300 billion. You might be wondering, ‘how do you build the next Byte Dance or Uber?’ the reality is, you don’t. 

There’s no clear-cut way to achieve that level of success. All you can do is believe in your product, put in the work and hope for the best. Nonetheless, there are a lot of strategies you can borrow from these trailblazers. 

The founders of Uber, Travis Kalanick and Garrett Camp, recognised an opportunity after a conference and could not get a cab. This generated the idea, “What if you could request a ride from your phone?” Building on the idea, they bought the domain name UberCab.com and started Uber.

Leverage all the inspiration you can get from these big players, but you’ll be setting yourself up for failure if you’re trying to copy their every move with hopes of similar success. 

Let’s look at some startup success stories that you can’t recreate.

Byte Dance

Source: PYMNTS

The Chinese tech company is the brain behind Tiktok, a short-form video hosting service, Douyin, and news and information platform Toutiao. The famous online platform’s success has seen the company’s market worth increase to about $300 billion. In the first half of 2021, ByteDance hosted about 1.9 billion monthly active users across all its content platforms.

The company is financially backed by Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group.

Space X

Source: Anadolu Agency

SpaceX, an American spacecraft manufacturer, space launch provider, and satellite communications, is owned by the wealthiest man in the world, Elon Musk and is currently worth $125 billion.

The company manufactured the Falcon 9 and Falcon Heavy launch vehicles, rocket engines, Cargo Dragon, crew spacecraft, and Starlink communications satellites.

The Starlink communication satellites became the largest satellite constellation ever launched, with over 3,000 small satellites in orbit as of September 2022.

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Uber

Startup Success Stories
Source: Mashable

As of September 2022, Uber is worth $55.08 billion. This was achieved by overcoming challenges like local government regulations and pricing. It was founded by Travis Kalanick and Garrett Camp.

They turn their challenges into a solution for billions of people. Since it was a problem faced by most people in San Francisco, they leveraged the niche and became the best mobility service provider within and beyond the borders of the USA.

Alibaba

Startup Success Stories
Source: BigCommerce

The internet is indeed very powerful. The discovery of this secret led to the creation of Alibaba. This was after the failure of his first business — China Yellow Page. Girded with just vision, he dared to dream of Alibaba on an international scale. 

Jack Ma said, “What we will build is an e-commerce company. Firstly, I hope it is going to last for 102 years. Secondly, we will serve all the middle and small-sized enterprises in China. Thirdly, we will make it the biggest e-commerce company in the world and a top ten global website.”

The vision gave him the boldness to select who he wanted on board, not even if they had the capital he needed. This saw him rejects 38 venture capitalist. 

Today, Alibaba is one of the leading e-Commerce platforms, worth $213.73 billion. He has also become one of the wealthiest people in China, with a net worth of $22.2 billion.

Airbnb

Source: HBS Digital Initiative

From renting out airbeds, Brian Chesky, Joe Gebbia and Nathan Blecharczyk founded a reservation company that helps tourists and vacationers to get affordable and conducive accommodations. This saw them increase their earnings from the initial $240 from their first three customers to be worth $67.28 billion in market capitalisation.

Just as they leverage their room to accommodate attendees of a design conference due to a lack of available bookings in San Fransico, they allow homeowners to monetise their houses through short-term lodging.

With its 5.6 million active listings worldwide in about 100,000 cities, lodging is made accessible and stress-free.

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