When we think of companies like Apple or Dell, we think of the most profitable companies our country has produced, the same daily products we use to facilitate our daily lives and the kind of household name that will surely stand the test of time, uttered for years to come.
But both of these companies have been discussed in extreme excess since the dawn of their incredible success; now, there are a few new players in town. Let’s talk about new successful companies that also started in tiny suburban garages.
Every wondered why the peer-to-peer commerce site has such an unusual name? It’s because co-founder Robert Kalin wanted to build a brand from scratch, with no affiliations or preconceptions attached. The site was started by a tiny company called iospace in 2005, only funded later once it had passed $1.7 million in sales.
Remember the last time you heard a story about an app launched in the creator’s dad’s living room? Likely not. Snapchat is unique; founder Evan Spiegel first pitched the idea to his classmates in college, where he was laughed out of the room. A picture service that automatically deleted the image? At the time, it was underwhelming. Now, Snapchat is valued at $3 billion.
A small grocery delivery service launched in founder Apoorva Mehta’s apartment just two years ago is now Forbes’ most promising company. The rapid service has raised about $260 million in funding, and is valued at $2 billion.
So while the Apples and Dells of the world carry on, every day a new idea graduates to a full-blown billion dollar company.