Some tech companies have been fortunate enough to never go off the ground even after repeated failures. But a few unfortunate ones were lost in the mist quite soon. However, there were a few that reached to the verge of getting shut but with great zeal bounced back and share their success stories now.
These days, setting-up a tech business is no longer a hard nut to crack. However generating profit and keeping the business running often takes a toll on people’s lives. In this scenario, the success stories of these tech companies might act as inspiration for others. Do you which companies fall into this category? Read the blog further and know about them in detail.
Recently Apple grabbed the position of the most valuable company of the world. As reported by August 1, 2018, it has capitalization of $974.42 billion. But Apple has the biggest comeback story when talking about the tech companies. The founder of Apple, Steve Jobs was fired from the company in 1985 and the next 12 years were no less than oblivion for this company. It was crawling towards bankruptcy and that’s when Jobs was recruited again. As soon as he took charge, he convinced Microsoft to invest in the company. With the investment, iMac was developed & launched, and then there was no looking back for this company.
2. Tesla and SpaceX
Do you remember the disastrous recession of 2008? It was not only difficult time for financial organizations but also for tech companies. The cash shortage hit Tesla and SpaceX. The situation was so bad that there were only two options left, either they could split the cash available to both of these companies or they had to choose which one should go off! However, SpaceX applied for a contract with NASA and in surprising turn of events, won it to claim $1.6 with which the fate of these two companies were sealed. Today, Tesla and SpaceX are performing equally well and are working on the futuristic projects.
A company which is worth a whopping $25.5 billion has been rejected by the investors several times. This tech giant marks its beginning in 2008 when three guys came up with idea of renting air mattresses in the living room. However, their plan wasn’t accomplished in favor and they were rejected seven times before getting accepted by Y combinator. Now you can rent an entire villa as well through Airbnb and the fun part is this company has millions of places to rent but it does not own even one!
A highly popular multipurpose note taking app which makes millions now was almost shut. Phil Libin, the founder made a decision of shutting down the company in 2008. He decided to check his email for the one last time at 3:00 a.m. and found an email. It was from a Swedish man who was really happy with the product and was interested in investing on the same. That investment of $500,000 changed the fate of this company. Today Evernote is worth more than $1 Billion.
In 1985, Intuit had nothing on hands. It had no money or investment; the founders knew they had to shut down the company. By this time, company had stopped paying salaries to the employees and had returned the rented furniture. However, a few employees continued to work for free and helped in attracting a few investing properties. With this, Intuit was back on track and eventually made huge profits.
This is the most shocking entity of the list as this multinational company has always been on the good books of investors and customers. However, in 1990 things were not going pleasant and thus it was decided that the company will be split into smaller units so as to work efficiently. But then Lou Gerstner took charge of the company and after major lay off, and selling some assets of the company, the plan was dropped. Today IBM is in the list of best tech companies.
There are many more on the list, but these companies have transformed their destiny and have risen from oblivion. They have thought us never to lose hope and keep working! What do you think?