Even though there are numerous startups out there that never really seem to do much more than cater to a very niche business, there are still the stand out cases that transform from small businesses into billion-dollar companies. Following on from previous posts on the same subject, DotCom Magazine are happy to share with you another five companies we feel may hit the billion-dollar revenue mark in the coming months.
Raise is a startup that was established by Bradley Wasz and George Bousis who began working on a savings site back in 2011. By 2013, however, they changed their tact and setup Raise based on their estimates of there being a $400-billion gift card industry in the US, where an estimated 20% of all card dollars go unspent. Since the business was launched, it has increased its workforce to over 160 and received $62 million in investments. It has accumulated over one-million customers so far who buy and sell gift cards. Raise then takes a cut of 15% from each seller.
Orchard Platform is a startup that helps many of the leading investors to tap into growing fields of peer-to-peer lending. It helps these institutional investors to assess the risks associated with lending on platforms such as Prosper and Lending Club that are looking at new ways to provide forms of credit. Over the year between 2013 and 2014 the company had a revenue range of between $500,00 and $1 million.
Mixpanel is an analytics software startup setup by Tim Trefren and Suhail Doshi. Currently, there are over 3,000 clients who use their platform to study the behavior of their customers, particularly when it comes to smartphones and other mobile devices. Over 30 billion actions each month are analyzed using the service, creating revenue every year that reaches the tens of millions mark.
Lithium has assisted over 400 brands to engage with their customers better and create stronger relationships using social media. Sony, AT&T and Best Buy are just three of the big-name corporations that have benefitted from the startup and its services. With over 300 employees working for it, the startup is heading towards hitting and surpassing the $100 million revenue mark by the end of 2019.
Kreditech dubs itself as digital banking for those that are unbanked, the company was established by Alexander Graubner-Moller and Sebastian Diemer and has receiver investments from notable sources such as Global Founders Capital, Kreos Capital and Blumberg Capital to name a few and has raised around $274 million in capital and at present is valued at $190 million. It’s not too hard to see why there are 2 million people who have used Kreditech. After all, the company offers loans of money within seconds using data gleaned from analysis of a potential borrower’s digital footprint.
Although not all the startups will interest you, it is intriguing to note, we feel, just how many are heading towards the billion-dollar mark.