Startups are recently founded companies that are frequently modest in size and have avant-garde concepts or goods. Entrepreneurs who want to develop a product or service that addresses a market demand or problem typically find these businesses. Startups frequently operate in sectors with significant room for development, such as technology or biotechnology, and prioritise expansion and scalability. They could also look for money from venture capitalists or other investors to assist in financing their growth. Successful tech startups stand out for their flexibility, willingness to take calculated risks, and capacity for experimentation and iteration in search of the ideal product-market fit.
Startups frequently operate in ambiguous and unclear environments and may encounter various difficulties like little resources, fierce rivalry, and legal problems. However, it can develop quickly and provide value to its investors, workers, and founders.
Startups have grown in significance as a source of innovation and economic expansion in recent years. New technology, goods, and services have emerged due to the disruption they have caused to established markets and sectors.
Athletic teams with complementary talents and knowledge, a clear vision and plan, and a thorough understanding of their target market are frequent characteristics of successful businesses. Companies must also be able to swiftly learn from their errors and adjust to shifting market conditions and the client’s wants.
In conclusion, successful tech startups are essential to the contemporary economy, stimulating innovation, generating employment, and promoting economic expansion. Even though they encounter numerous obstacles, successful companies may also reap considerable benefits.
10 most successful tech startups of the decade 2010-2020
1. Swiggy
In India, a company called Swiggy was established in 2014. With a more than $5 billion valuation, Swiggy has emerged as one of India’s most successful tech startups. Customers may use its mobile app or website to order meals from nearby restaurants, which will be delivered right to them.
Swiggy’s emphasis on the client experience is one of the main reasons for its success. With its user-friendly layout and extensive selection of cuisines and foods, Swiggy makes it simple for users to explore and place orders. Moreover, the platform provides several services, including real-time information on delivery timelines, live order tracking, and round-the-clock customer care.
To enhance the consumer delivery experience, Swiggy has cultivated a robust network of restaurant partners. The business provides restaurants with access to a sizable client base and various services, including online ordering, payment processing, and logistics for delivery.
The success of Swiggy is also attributed to its emphasis on innovation. The business has made significant investments in data analytics and technology, and it uses machine learning algorithms to streamline delivery routes and cut down on delivery times. Moreover, Swiggy has introduced a variety of new goods and services, including Swiggy Genie and Swiggy Go, a hyperlocal delivery service.
Due mainly to the company’s growth, venture capitalists and other investors have been interested in Swiggy. Moreover, it has swiftly grown, operating in more than 500 Indian locations and employing more than 200,000 delivery executives.
In conclusion, Swiggy’s success in India’s very competitive food delivery sector has been primarily attributed to its emphasis on customer experience, innovation, and solid partnerships with eateries. The company’s rapid development and high value are evidence of its sound business model and capacity for strategy execution.
2. Paytm
India-based Paytm is a digital wallet and e-commerce platform. It was introduced by Vijay Shekhar Sharma in 2010 and has since grown to become one of the nation’s most popular digital payment services.
One of the successful tech startups in India to provide mobile wallet services was Paytm, which soon attracted consumers looking for a quick and easy way to purchase products and services. Many elements contributed to Paytm’s success. Its early embrace of mobile payments is one of the most significant.
Moreover, Paytm has successfully created a sizable ecosystem of businesses and service providers that use its platform to take payments. Because users may use the platform to pay for anything from groceries and utilities to movie tickets and trip reservations, Paytm has seen a rise in customer acceptance.
Paytm has also had success using technology to enhance its products. For instance, it has made services like QR code payments available, which let customers pay by scanning a code posted at a retailer’s location. It has also launched various value-added services to entice and keep consumers, including insurance, financial management, and mobile recharges.
The success of Paytm’s marketing initiatives and excellent brand awareness are further factors. Paytm has made significant investments in marketing and advertising initiatives, which have aided in raising brand recognition and growing its user base.
Overall, several variables, including Paytm’s early adoption of mobile payments, its robust ecosystem of retailers and service providers, its emphasis on innovation and technology, and its successful marketing and branding tactics, should be credited for its success.
3. Oyo Rooms
An Indian hospitality firm called OYO Rooms provides inexpensive stays in hotels and other types of accommodations. Ritesh Agarwal launched it in 2013, and since then, it has grown to be one of the successful tech startups and biggest hospitality businesses in the nation.
The disruptive business strategy used by OYO Rooms was one of the main elements of the company’s success. OYO Rooms began by collaborating with small, independent hotels and converting them into branded, inexpensive accommodations that met specific quality criteria. This assisted in filling a market void for typical, reasonably priced lodging choices in India.
Technology was also used by OYO Rooms to enhance its services and optimise business processes. With the help of a unique technological platform, it managed and kept an eye on its partner hotels in real-time and provided various services to consumers via its mobile app.
The ambitious growth plan of OYO Rooms was another aspect that led to its success. The business quickly grew its network of affiliate hotels throughout India and subsequently ventured overseas. Also, it expanded its selection to include hotels, rental flats, and other lodging choices.
The success of OYO Rooms is also linked to its emphasis on client satisfaction and experience. In addition to providing a variety of amenities to consumers to enhance their stays, such as on-demand room service and 24-hour customer care, the firm made significant investments in training and support for its partner hotels.
OYO Rooms’ revolutionary business model, emphasis on technology and innovation, aggressive development plan, and dedication to customer service and experience significantly contributes to the company’s success.
4. Redbus
Redbus is an Indian technology firm that offers online bus ticket purchasing services. Phanindra Sama, Sudhakar Pasupunuri, and Charan Padmaraju launched it in 2006, and it has grown to be one of the biggest bus ticketing platforms in the nation.
Redbus’ success was primarily attributed to its ability to fill a market vacuum for dependable and practical bus ticket purchasing services. Before Redbus, most bus ticketing in India was done through time-consuming and sometimes unreliable offline channels, including travel agencies and bus terminals. Redbus provided clients with a simple, handy option to order online bus tickets and deliver them to their homes.
Redbus used technology to enhance its services and organise its business processes. It created a unique technological platform to manage and track bus ticket inventory in real-time and provide various services to clients through its mobile app.
The success of Redbus was also attributed to its dedication to providing excellent customer service. In addition to providing various services to consumers to improve their experiences, the firm invested significantly in training and support for its partners and staff. These services included live bus tracking, on-time performance guarantees, and 24-hour customer assistance.
The ambitious growth plan employed by Redbus is also responsible for its success. The organisation quickly grew its network of bus drivers and routes throughout India, and later it also moved outside. Moreover, it expanded its range of travel services by adding tour packages and hotel reservations.
In conclusion, Redbus’ success may be linked to its capacity to fill a market void for dependable and practical bus ticket booking services, its concentration on technology and innovation, its strong emphasis on customer service and experience, and its aggressive development plan.
5. Ola
Ola is an Indian ride-hailing service that provides taxi and transportation services. Bhavish Aggarwal and Ankit Bhati launched it in 2010, and it has since grown to be one of the biggest ride-hailing companies in the nation.
The fact that Ola entered the Indian ride-hailing business early was one of the main factors in its success. One of the first businesses in the nation to provide ride-hailing services, Ola immediately became well-liked by customers seeking a quick and easy means of transportation.
Ola also used technology to enhance its services and organise its business. With the development of a unique technological platform, it could control and track its fleet of vehicles in real time and provide various services to consumers via a mobile app.
Ola’s commitment to excellent customer service and a positive user experience was another reason for its success. In addition to providing a variety of services to consumers to improve their experiences, the firm made significant investments in the training and support of its drivers. These services included on-demand ride scheduling, in-cab entertainment, and 24-hour customer support.
Ola’s ambitious growth plan is another factor in the company’s success. The business quickly increased its network of drivers and services throughout India and, later, also ventured into other markets. Moreover, it broadened its services to provide additional forms of mobility, including food delivery and bike sharing.
Ola’s early entry into the ride-hailing business, concentration on technology and innovation, strong emphasis on customer care and experience, and aggressive expansion plan may all be credited for its success.
6. Airbnb
Travelers may reserve distinctive lodgings and experiences worldwide through the international internet marketplace known as Airbnb. The successful tech startups, founded in 2008, has transformed the tourism sector by enabling homeowners to rent their homes to tourists as an alternative to traditional hotels.
Users may search for rooms using the Airbnb platform’s website and mobile app based on location, trip dates, and other preferences. The organisation has many lodging options, including condos, houses, villas, and unusual homes like treehouses and yurts.
Moreover, Airbnb has broadened its offerings to include one-of-a-kind experiences like local hosts-led outdoor activities, culinary courses, and guided tours. Through these interactions, visitors may get to know people and learn more about the tradition and history of the place they are visiting. The revolutionary business model, inventive technology utilisation, customer-centric philosophy, and international network of hosts and guests that make up Airbnb are all responsible for its success. Also, the firm has expanded into new areas, including luxury tourism and long-term rentals.
With a presence in more than 220 countries and territories, Airbnb has grown to become one of the largest hospitality firms in the world despite regulatory obstacles, competition from conventional hotels, and rival vacation rental platforms. The business is valued at over $100 billion as of 2021 and has welcomed over 900 million visitors since its inception.
7. BigBasket
A group of individuals led by Vipul Parekh, Abhinay Choudhari, Hari Menon, V S Sudhakar, and V S Ramesh created the online food retailer BigBasket in 2011. Since then, it has become one of the successful tech startups and biggest national online grocery platforms, providing clients access to various items.
BigBasket’s ability to fill a need in the market for practical and dependable online grocery delivery services was one of the significant factors in its success. Before BigBasket, most food shopping in India was offline at stores like supermarkets and neighbourhood markets, which could have been more convenient and time-consuming. BigBasket provided clients with a practical and dependable option, enabling them to buy food conveniently from their homes.
To enhance its services and optimise its operations, BigBasket has made use of technology. With the development of a unique technological platform, it managed and tracked its inventory in real-time and provided various services to clients via a mobile app.
The success of BigBasket was also attributed to its dedication to providing excellent customer service. In addition to providing various services to clients to improve their experience, the firm invested significantly in training and support for its partners and staff. These services included expedited shipping, simple returns, and 24-hour customer assistance.
BigBasket’s ambitious expansion plan is another factor in the company’s success. The business quickly diversified its product line to include a large selection of groceries and home goods, and in time it even opened real retail outlets.
BigBasket’s ability to fill a market need for easy and dependable online grocery delivery services, its concentration on technology and innovation, its strong emphasis on customer service and experience, and its ambitious expansion plan are all factors that contribute to its success overall.
8. Byju’s
Byju Raveendran established the Indian ed-tech business Byju’s in 2011. Since then, it has grown to be one of the biggest platforms for online education in the nation, providing a variety of classes and study guides to students at all academic levels, from kindergarten to post-graduate.
Byju’s capacity to fill a market vacuum for affordable and high-quality education was one of the main elements of its success. Before Byju’s, conventional education in India was predominately delivered through offline channels, such as schools and coaching facilities, which sometimes needed more funding and access to qualified instructors. Byju’s provided a practical and economical option, enabling students to take advantage of top-notch courses and study materials from the comfort of their homes.
Byju used technology to enhance its services and optimise business processes. It created a proprietary technology platform to provide students with individualised learning experiences and monitor their real-time performance. To make studying more enjoyable and accessible for students, the corporation also invested significantly in creating interactive and engaging study tools, such as games and films.
The success of Byju was also influenced by its dedication to branding and marketing. The corporation executed several high-profile marketing initiatives with celebrities and athletes to promote its brand and products. Byju has also worked with educational institutions and schools to increase its visibility and reach.
Byju’s ambitious growth plan is another factor in its success. The business quickly broadened its selection of products to include a variety of courses and study aids, and in time it even entered foreign markets.
Overall, Byju’s success may be ascribed to its capacity to fill a market gap for high-quality and affordable education, as well as to its concentration on technology and innovation, its strong emphasis on marketing and branding, and its aggressive growth strategy.
9. Firstcry
An Indian e-commerce site called FirstCry focuses on baby and children’s merchandise. Supam Maheshwari and Amitava Saha launched the business in 2010, and it has since grown to become one of the nation’s most prominent online merchants of baby and children’s supplies.
One of the main reasons FirstCry was successful was because it was able to fill a market gap for safe and dependable online purchasing for baby and children’s supplies. Before FirstCry, parents sometimes had to rely on visiting actual businesses to buy items for their kids, which might be difficult and time-consuming. FirstCry provided parents with a practical and dependable substitute that allowed them to purchase goods from the comfort of their own homes.
To enhance its services and optimise its operations, FirstCry has made use of technology. With the development of a unique technological platform, it managed and tracked its inventory in real-time and provided various services to clients via a mobile app.
The success of FirstCry was also attributed to its dedication to providing excellent customer service. In addition to providing various services to clients to improve their experience, the firm invested significantly in training and support for its partners and staff. These services included expedited shipping, simple returns, and 24-hour customer assistance.
The ambitious expansion plan used by FirstCry is another factor in the company’s success. The business quickly grew its selection of goods to include a variety of infant and children’s products, and in time, it also opened actual retail outlets.
Overall, firstcry’s success may be linked to its capacity to fill a market void for safe and dependable online purchasing of baby and children’s goods, its concentration on technology and innovation, its strong emphasis on customer care and experience, and its aggressive growth plan.
10. Freshdesk
An Indian software business called Freshdesk specialises in helpdesk and customer service solutions. Girish Mathrubootham established the company in 2010 and it has since grown to become one of the world’s top suppliers of customer support software and successful tech startups.
Freshdesk’s success was primarily attributed to its capacity to fill a need in the market for user-friendly and reasonably priced customer support software. Before Freshdesk, many companies were forced to handle their customer support operations with cumbersome and expensive software solutions. Businesses of all sizes managed their customer support operations more successfully and efficiently thanks to Freshdesk, which provided a straightforward and economical option.
Technology was also used by Freshdesk to enhance its services and optimise business processes. It created a cloud-based software platform that allowed companies to manage their customer support operations from any location and interface with various tools and services from third parties.
Freshdesk’s dedication to client satisfaction and experience was another element of its success. In addition to providing various services to customers to improve their experiences, the company significantly invested in training and support for its partners and employees. These services included 24/7 customer support and a community forum where users could share best practices and solutions.
The ambitious expansion plan used by Freshdesk is another factor in the company’s success. Various client engagement and retention solutions were quickly added to the company’s product offerings, and it eventually entered foreign markets.
Ultimately, Freshdesk’s success may be credited to its capacity to fill a market void for user-friendly and cost-effective customer support software, as well as to its concentration on technology and innovation, customer service, and experience, as well as its aggressive growth plan.
