Think about it, when the economy is in a downturn, what tech startups can find funding to develop a new business model? The innovative companies of course! You know, the ones with different ideas that stray away from the normal? It’s these innovative companies that strive in this harsh economic atmosphere, and that is just what happened in the recent economic downturn. The economy weeded out the basic, cookie cutter businesses and unearthed the gems beneath. Some of these gems include the likes of Spotify, Twitter, FourSquare, and Tesla Motors. All four of these companies have a stake of their business abroad too which means that these successful tech startups understand the importance of going global. How have they done business abroad? Glad you asked!
• Twitter – With over 100 million users worldwide, their reach to users abroad has increased from 45% in June of 2009, to over 60% as of April 2010. It has become a PR resource for companies, a social networking platform, and a key real-time information and news source for millions of users around the world.
• Spotify – This Swedish based company hasn’t even reached the United States yet but has grabbed attention overseas. Spotify is a streaming music service that offers a new way to consume music but also can link your taste of music to social networks. If spotify can overcome the music industry’s strict licensing agreements, it’ll be sure to be a huge hit in the States.
• FourSquare – Don’t know what to do on a Saturday night in a new city? Interested in where your friends are or have been? This company right here will do all that and more. Also, as the UK Guardian says, “it can be a brilliant source of tips for travelers because it knows exactly where you are,” and offers where you should go. Not to mention, the service has grown exponentially; how about doubling use to 40 million users in less than a month?
• Tesla Motors – A new ambitious electric car company that threw its hat into the ring late last month with an IPO raising nearly $200 million. Not only that, but they recently closed a deal with Toyota to produce an electric powered RAV4.
These companies are still in their infancy and only time will tell if they will survive but judging by numbers, most of them have a quality chance at becoming a household name sooner or later. And as internet consumption continues to rise, we can only expect more players to enter these new markets. May the best company win!