Majority of the tech start-ups fail because the products or services that they offer do not create any long term value to their customers. Most don’t create any value at all. Whereas, the start-ups that have real potential for growth are those that are creating long term (20 years+) value for its clients. Most of those start-ups are the ones that are revolutionizing legacy industries like: banking, medicine, telecommunication and making it easier, cheaper and quicker.
Considering the marketable ideas that tech start-ups have brought forward, here’s the list of hottest tech start-ups for this year:
Product Hunt - With more than a billion websites now crowding the interwebs, discovering new products is a massive challenge. Product Hunt is a wildly popular online tastemaking hub that showcases the latest gadgets, games, podcasts and books. To date, Product Hunt has raised an estimated $7.1 million in venture capital.
DoorDash – It is the on-demand food delivery app that brings fresh food from local restaurants to customers in 250-plus cities throughout the U.S. and Canada. It has already raised $60 million through investments.
Boxed – An ecommerce start-up that lets consumers shop from their smartphones and laptops for groceries and other household items in bulk. Started by four friends, the young company now has a total headcount of 100 and a total investment of approximately $132 million.
Luxe Valet – It is a smartphone app for valet-parking. For an hourly rate (which varies by location), Luxe’s valets will park your car in the company’s lots. For additional fees, they can also wash your ride, put gas in it and change the oil.
Medium – When it started, “Medium” looked like only a blogging platform. But then, everyone - amateurs, marketers, politicians and journalists are welcome to publish written content of all kinds on the popular site. Medium was co-founded by former Twitter CEO. So far, company has raised $82 million in venture capital.
ClassPass – People can book fitness classes through its app-based gym membership platform. This start-up now employs some 300 people and connects a growing base of customers with exercise classes at some 3,000 boutique gyms and participating studios in 30-plus cities across the U.S., Canada, Europe and Australia. It has $84 million in venture capital.
Beepi – It’s an app to buy and sell used cars. The company is expanding steadily at a 20 per cent annual rate. It is the first company to sell cars 100 per cent online. So far, it has secured $149 million in investments.
Shyp – It is an on-demand shipping app that enables people to order a courier who will cart any item off to one of its warehouses. From there, goods are professionally packed and shipped off to their destinations. Shyp tied up a partnership with eBay, debuted several new features and brushed up its branding. Available at first in San Francisco and New York City, it also extended its package pickup reach to Los Angeles and Chicago.
Acorns – The goal of Acorns is to make investing less tedious and intimidating through automation. The smartphone app automatically invests users’ leftover change from routine credit and debit card purchases in exchange-traded funds. Acorns serve some 650,000 registered users who had opened approximately 300,000 investment accounts. Its latest funding round brings total of $32 million in venture capital.
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