Startups

Overview

The term “startup” is typically used to describe private companies in their early stages of operation that focus on innovating new products or services to meet a market gap. Unlike other types of new businesses, most startups have explicit goals of scaling and growth, and often seek to disrupt an existing market or industry. To achieve this, they often must raise significant outside capital.

Uber, for example, was originally a startup designed to disrupt the taxi industry, just as Airbnb did with the vacation rental sector.

In the US, about 5.5 million new business applications were filed in 2023, and, as of 2024, there were roughly 34 million small businesses—but not all of these companies were startups.

The top seven companies in the US by market cap—Apple, Nvidia, Microsoft, Alphabet, Amazon, Meta, and Tesla—all began as tech startups. Combined, they are currently worth more than $20T.

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