Despite the many difficulties businesses faced during the pandemic, entrepreneurship took off at unprecedented levels. The U.S. Census Bureau reported the largest increase in new business applications in recorded history—a number that continues to rise even today.
Many entrepreneurs saw an opportunity in the market that previously didn’t exist. How have those companies fared now that consumers are starting to return to pre-pandemic habits? These five startups that were founded during the pandemic show that business is booming.
[Read more: Top 5 Types of Businesses Started During the Pandemic]
QuickHire
Sisters Angela Muhwezi-Hall and Deborah Gladney saw an opportunity during the pandemic to fill a hiring gap in the job market. They founded QuickHire, a platform to help service industry and skilled trade workers find jobs. The demand was off the charts during the pandemic, when millions of people lost or left their jobs and needed to find new employment.
Their platform continues to serve a ready market. More than 70% of the labor force works in the service sector. “Today, QuickHire matches more than 11,000 job seekers with jobs at 60 mid- to large-size service industry companies including Fuzzy’s Taco Shop and Homewood Suites by Hilton,” reported CNBC.
Kinly
The pandemic disproportionately impacted minorities, especially financially. Kinly was founded in 2020 to provide financial services to Black America. Kinly is both an app and a Visa debit card designed to empower the Black community to achieve its financial goals.
The company’s potential target market is huge. “Though unbanked, underbanked and underserved, the Black community’s $1.6-trillion in annual economic impact provides a significant base to build upon,” wrote Kinly. In addition, Kinly recently announced a partnership with Visa to provide access to crypto. Kinly will be the first to pilot Visa’s new suite of crypto APIs, enabling customers to purchase and trade digital assets.
Kinly will be the first to pilot Visa’s new suite of crypto APIs, enabling customers to purchase and trade digital assets.
Pacaso
Pacaso was founded in 2020 and received unicorn status faster than any other company in history. By March 2021, Pacaso had raised more than $90 million in total equity financing. The company offers a marketplace that makes buying, owning, and selling a second home easy. Capitalizing on the work-from-home trend and the desire of many families to leave urban centers, Pacaso curates listings, offers financing, and provides property management to those who want a taste of a new city, town, or community.
[Read more: How Pacaso Reached $1 Billion ‘Unicorn Status’]
Thumbtack
This startup also tapped into a market of consumers who were suddenly spending more time at home. Thumbtack is a home management platform that helps connect homeowners with general contractors, moving companies, home improvement specialists, and cleaning companies. Thumbtack can also help plan weddings and events, identifying local vendors who might be available.
Thumbtack was named one of the 2022 Best Places to Work in the Bay Area, making the list for the fourth year in a row.
Shipt
Contactless delivery and curbside pickup were all the rage during the pandemic. As it turns out, consumers love the convenience of outsourcing grocery shopping. Enter: Shipt. Shipt offers delivery on everything from groceries to household essentials in as soon as one hour.
Shipt was acquired by Target in 2017, but has skyrocketed in popularity since COVID-19. The company partnered with Visa to fast-track the adoption of same-day delivery among credit card holders. Rising inflation and higher food prices have encouraged consumers to rely on grocery shopping over eating out, and business continues to boom at Shipt.
[Read more: How Startups Capitalized on Two Key Pandemic Trends to Fuel Growth]
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
Follow us on Instagram for more expert tips & business owners’ stories.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
