A Look At 10 Successful Startups Founded During A Recession
From Airbnb to Groupon, let’s explore how these tech startups launched
With recent uncertain times across the world, 2020 is shaping up to be both exciting and frightening.
Many startups have experienced cutbacks, including many needing to initiate layoffs while others were closing shop. In general, though, VC deal activity has risen since the GFC.
As seen in the graph below, there was a small decline from 2008–2009 before picking back up into record highs in 2018 and 2019. So far, it looks like there will be a decline in VC deal activity in general by the end of 2020.
It’s essential, however, to remember that many startups were born from lows. Every recession eventually ends, and we saw many come out from the most recent Global Financial Crisis into successful startups.
In an even more exciting chart, 2009 was the largest number of US software companies that were founded between the Years 2003 to 2014, which was just at the end of the Global Financial Crisis.
