The world is full of aspiring entrepreneurs with groundbreaking startup ideas in their minds and visionary thoughts to become a future leader. However, they require high-net-worth millionaires to seed-fund their ideas to be transformed into reality.
There is no doubt that successful startups entail heavy initial investments such as product marketing and recruitment of managers and employees, which is only possible with funding from venture capitalist firms and investors. However, there are some pitch-perfect examples of people who did not wait for an angel to be their investor; rather, they became their own investors and proved their worth to the world with true perseverance and hard work.
There are many tech startups that had a shaky and doubtful beginning but are now worthy enough to buy even the most expensive business companies in the world. Here are the success stories of 5 tech startups that kicked-off as self-funded organizations but now are worth millions.
Microsoft is a multinational company that develops support and licenses and sells computer software, consumer electronics, and related services. The company is owned by one of the top billionaires of the world and highly influential business magnate, Bill Gates, who founded Microsoft in 1975 with his friend Paul Allen.
The name Microsoft was suggested by Allen, which is the combination of two words: microcomputer and software. At that time, Gates had to make a big decision to focus on his startup by dropping out from Harvard forever. They didn’t have much money to raise their startup; hence, in 1980, they joined hands with IBM to include Microsoft operating system with IBM computers where they were paid commissions for every sale they made.
Today, Microsoft has a total revenue of $138.6 billion, assets of $285.4 billion, with an annual profit of $46.3 billion. These figures didn’t turn overnight; there is extreme hard work hidden beneath these figures, and a lesson for those who wish to become the future aspirers.
GitHub is an IT service management company that provides internet hosting for version control and software development using Git. It was founded by Tom Preston-Werner and his fellows in 2008. The company didn’t have a solid beginning; in fact, it started off as a weekend project simply to meet the necessity of code sharing by the founders.
To turn the dream turn into reality, Werner rejected the stock options and bonus of worth $300,000 from Microsoft just to give full-time focus to his startup in 2008. He would not have known that soon he would be worth $2 billion dollars with what seemed to be the company that did not even exist before 2008.
All three of the founders started GitHub with their own money to set up the domain and hosting. Just within its first year, GitHub had amassed over 46,000 public repositories. The company was sold to Microsoft in $7.5 billion by the founders in 2018, and has more than 56 million active users as of September 2020.
eBay is a multinational eCommerce corporation that allows sales between business-to-consumer and consumer-to-consumer via its website. Founded by a French-American software engineer, entrepreneur, and billionaire, Pierre Omidyar, in his living room in 1995.
During the early days, it was a simple web-based marketplace for users to buy and sell products. Among the very first items sold by the company includes a scraped laser printer that went on in just $14.83. The company had a phenomenal growth from 250,000 auctions throughout the year 1996 to 200,000 only in January of 1997.
After two years, the bootstrapped startup eBay received a funding of $6.7 million by a leading venture capital firm Benchmark for 22.1% of the company ownership, which finally rendered the company to go public in 1998. The company has a net worth of $36 billion as of July 2019, with over 183 million active buyers worldwide as of 2020.
Dell was founded on February 1, 1984, by Michael Saul Dell, the chairman, and CEO of the company. It’s a multinational computer company that sells and develops computer-related services and products.
The idea existed in Michael Dell’s mind since he was a student at the University of Texas. He transformed his idea into reality from his university dorm room with a capital worth of just $1000 from his own family and took a life-changing decision to drop out of studies to render his complete focus at his new tech startup. He initially named the company PC’s Limited (1984-88), which then changed to Dell Inc.
At present, the same college dropout, Michael Dell, is ranked 18th in the Forbes list of the richest man in the world with a net worth of $40.7 billion, whereas his company, Dell Inc., has a total revenue of $91.9 billion with assets accumulating a figure of $118.9 billion.
The American multinational company Cisco Systems Inc. derived its name from the city of San Francisco with the same name. The company manufactures, develops, and sells networking hardware, software, and other high technology products and services.
The company was found in 1984 by a married couple, Leonard Bosack and Sandy Lerner, who were computer operations staff members at Stanford University. The couple barely succeeded in the initial days of their startup, but are now the millionaires in their race with a net worth of $200 million.
Four years after Cisco’s inception, a venture capitalist Donald T. Valentine invested in the company. Finally, on 16th February 1990, the company went on public and had a market capitalization of $224 million. As of 2020, the company has a total revenue of $51.6 billion, and 75,900 employees according to the 2019 annual report.
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